Several embodiments of fully adjustable motorcycles so as to permit the use of a single motorcycle as either a touring or racing machine. The handlebar assembly (41) is adjustable along an arc as are the foot pegs (46, 47) with the center of movement of the arc being midway disposed between the handlebalr and the foot pegs. This permits the rider to assume either an upright touring position, or a reclined, crouched racing position. The seat is also adjustable and the adjustment further accommodates riders of varying stature.