Harley-Davidson former owner, and had been MV Agusta's chairman since Harley-Davidson bought it in 2008. As part of the deal, Harley-Davidson put $26M into MV Agusta's accounts, essentially giving Castiglioni $26M to take the brand. In August 2009, Harley-Davidson announced plans to enter the market in India, and started selling motorcycles there in 2010. The company established a subsidiary, Harley-Davidson India, in Gurgaon, near Delhi, in 2011, and created an Indian dealer network. According to Interbrand, the value of the Harley-Davidson brand fell by 43 percent to $4.34 billion in 2009. The fall in value is believed to be connected to
Harley-Davidson by the Davis Machine Company from 1917 to 1921, when Davis stopped manufacturing bicycles. By 1920, Harley-Davidson was the largest motorcycle manufacturer in the world, with 28,189 machines produced, and dealers in 67 countries. In 1921, a Harley-Davidson, ridden by Otto Walker, was the first motorcycle ever to win a race at an average speed greater than . During the 1920s, several improvements were put in place, such as a new 74 cubic inch (1,212.6 cm³) V-Twin, introduced in 1921, and the "teardrop" gas tank in 1925. A front brake was added in 1928 although notably only on the J/JD