Total revenue of $1.5 billion was 77% ahead of last year as we lapped the impacts of the COVID shutdown.
Revenue was down 6% versus 2019, primarily driven by the actions taken as part of the Rewire to prune unprofitable motorcycles as well as exit unprofitable markets.
Total operating income of $280 million was significantly ahead of 2020 and 9% ahead of 2019 with growth across both of our reported segments.
The Motorcycles and Related Products segment delivered $186 million of operating income, which is $307 million better than 2020 and 3% better than 2019.
Even though the quarter had 12,000 fewer units than 2019, we benefited from improved motorcycle unit mix, significantly lower sales incentives as we focused on building desirability, and a reduced cost structure behind our Rewire actions.
The Financial Services segment delivered $95 million of operating income, $90 million better than 2020 and 25% ahead of 2019.
Second quarter GAAP earnings per share of $1.33 was $1.93 ahead of Q2 2020.
When adjusting to exclude the impact of EU tariffs and restructuring charges, our adjusted earnings per share was $1.41, up $1.79 over prior year.
Turning to year-to-date results.
Total revenue of $3 billion was 37% ahead of 2020 and 2% behind year-to-date 2019.
Total operating income of $627 million was $635 million ahead of 2020 and 48% ahead of 2019.
GAAP year-to-date earnings per share was $3.01, up $3.16 from a year ago, while adjusted year-to-date earnings per share was $3.11, up $2.98 from last year.
Global retail sales of new motorcycles were up 24% in the quarter behind strong demand for core Touring and large Cruiser products in the U.S. as well as a successful launch of our Pan America motorcycle into the Adventure Touring space.
North America Q2 retail sales were up 43% versus 2020 and up about 5% over Q2 2019.
Looking at revenue, total motorcycle segment revenue was up 99% in Q2 and up 45% on a year-to-date basis.
Focusing on current quarter activity, 81 points of growth came from higher year-over-year volume and motorcycle units and parts and accessories as we lap last year's pandemic impact and work to meet the strong current year demand for our motorcycles, which includes the new Pan America; 13 points of growth from mix driven by a larger percentage of Touring bikes in the quarter along with favorable regional mix behind strong U.S. shipments; 5 points of growth from foreign exchange; and finally, one point of growth from pricing and incentives as we eliminated a majority of corporate discounts and incentives as part of the Hardwire strategy.
Absolute Q2 gross margin of 30.6% was up 14.5 points versus prior year driven by stronger volumes and favorable unit mix.
Q2 operating margin finished at 14% and was up significantly versus prior year due to the drivers already noted.
To help offset, we implemented an average 2% pricing surcharge on select models in the U.S. effective July 1st for the remainder of model year '21.
Financial Services segment, operating income in Q2 was $95 million, up $90 million compared to last year.
The total provision for credit losses decreased $75 million year-over-year, primarily due to the reserve rate changes of $63 million as we lapped last year's increase, which was largely driven by the economic impacts of the pandemic.
In addition, actual credit losses were $12 million lower.
Looking at HDFS's base business, new retail originations in Q2 were up 29% versus last year behind higher new motorcycle sales and strong used motorcycle origination volume.
At the end of Q2, HDFS had approximately $820 million in cash and cash equivalents on hand and approximately $1.3 billion in availability under its committed credit and conduit facilities for a total available liquidity of $2.1 billion.
Cash and cash equivalents remained elevated but were down, approximately, $900 million from Q1 as we continued to pull cash back down to normalized levels.
HDFS's retail 30-day plus delinquency rate was 2.21%, up 46 basis points compared to the second quarter of last year, which is the high point in issuance of pandemic-related extensions.
The retail credit loss ratio remained historically low at 0.84%, a 103 basis point improvement over last year.
We delivered year-to-date operating cash flow of $644 million, up $34 million over prior year.
As we look to the balance of the year, we are maintaining our guidance on the Motorcycle segment revenue growth of 30% to 35%.
For the Motorcycle segment operating income margin, during the second quarter the European Union made a decision to implement a six-month stay on raising the incremental tariffs from 31% to 56%, while negotiations occur between the U.S. and the EU.
We had stated our official guidance to be 7% to 9%, which assumed complete mitigation of the incremental tariffs.
With the full impact of the incremental tariffs, our guidance was 5% to 7%.
Based on what we know today, our estimated tariff impact for this year is, approximately, $80 million versus the initial estimate of $135 million.
This improvement would result in our estimated GAAP operating income margin moving from 5% to 7% to our revised guidance of 6% to 8%.
If we are successful in materially mitigating the incremental EU tariffs for the remainder of 2021 and get back to the planned tariff rate of 6%, our operating margin range would remain 7% to 9%.
We are increasing the Financial Services segment operating income growth guidance to 75% to 85%, which is an increase from the previously communicated range of 50% to 60%.
Lastly, capital expenditures remain flat to our original guidance of $190 million to $220 million.
Assuming the $80 million tariff impact, we expect the back half operating margin percent to be negative mid-single digits.
This back half guidance incorporates the impact in the shift in model year launch timing, logistics and raw material inflation rates in line with what we've seen throughout Q2, the approximately 2% pricing surcharge, and a step up in operating expense as we invest into the Hardwire and prepare for the launch of model year '22.
We continue to be guided by H-D1 as a high-performing winning organization based on our 10 defined leadership principles, built on the powerful vision and mission of Harley-Davidson.
The global reveal event generated over 127 million PR impressions with overwhelmingly positive sentiment, with many publications heralding the return of the iconic Sportster.
With the MSRP at launch in the US for $21,999, pre any applicable tax credit, we believe LiveWire ONE will redefine the segment through innovative engineering and digital capabilities and bring a whole new generation of riders and non-riders into our company's fold.
By launching online at LiveWire.com and at 12 LiveWire brand dealers in California, New York, and Texas, we placed geographic focus on EV customers and relevant charging infrastructure.
Last week, we launched our first product collaboration of the year with Jason Momoa and the Harley-Davidson Museum as a limited production American-made collection of 16 vintage inspired men's apparel and accessory styled sold exclusively on Harley-Davidson.com and in our museum store.
Following the new 21 motorcycles introduction, we successfully launched Pan America, our first Adventure Touring bike.
With 118 years of uninterrupted heritage, craftsmanship, and unrivaled iconic design, we are truly unique.

Summary:
Total revenue of $1.5 billion was 77% ahead of last year as we lapped the impacts of the COVID shutdown.
Second quarter GAAP earnings per share of $1.33 was $1.93 ahead of Q2 2020.
When adjusting to exclude the impact of EU tariffs and restructuring charges, our adjusted earnings per share was $1.41, up $1.79 over prior year.
Turning to year-to-date results.
As we look to the balance of the year, we are maintaining our guidance on the Motorcycle segment revenue growth of 30% to 35%.
We are increasing the Financial Services segment operating income growth guidance to 75% to 85%, which is an increase from the previously communicated range of 50% to 60%.
Lastly, capital expenditures remain flat to our original guidance of $190 million to $220 million.