A convertible motorcycle assembly has a chassis, a driver's seat, and a latch assembly which secures the driver's seat to the forward portion of the chassis. A bracket is mounted on the chassis adjacent the rearward end of the driver's seat, and selectively mounted on the chassis rearwardly of the driver's seat are interchangeable rear components comprising a passenger seat and a storage compartment. The forward end of the interchangeable rear components has at least one forwardly extending tongue engaged with the bracket, and the rear component is secured to the chassis by a second latch assembly adjacent the rear end of the rear component. This latch assembly includes a second releasable latch on the chassis and second key lock on the rear component engaged with the second latch assembly for effecting and preventing release of the second latch assembly.