UPDATE 2-Harley-Davidson's profit beats estimates as launch of new models drives sales

(Updates throughout, compares with estimates)

April 25 (Reuters) - Harley-Davidson on Thursday reported a better-than-expected first-quarter profit, helped by an increase in sales of its new Touring motorcycles in North America.

Harley is retooling its strategy around selling fewer bikes at higher prices to protect its margins in a high-interest rate environment, while preserving its brand cachet.

The company also benefited from pent-up demand from North American riders waiting to upgrade to its newly launched 2024 Touring models, which were introduced at the end of January.

That helped its North American retail sales, which rose 6%, although the late rollout of the bikes - Street Glide and Road Glide motorcycles - in other markets led to flat global sales.

Sales in the EMEA region (Europe, the Middle East and Africa) fell 11% due to weakness in Germany and France, while sales in the APAC region were down 12% due to weakness in China.

The company reported an adjusted profit of $1.72 per share for the first quarter, above average analysts' expectations of $1.51 per share, according to LSEG data.

Revenue from motorcycles and related products fell about 5% to $1.48 billion in the quarter but still beat estimates of $1.34 billion. (Reporting by Kannaki Deka in Bengaluru; Editing by Anil D'Silva)