September 24, 2007 – Piaggio’s first-half sales rise
September 24, 2007
Filed under Features
Even with only “stable” North American sales, the Piaggio Group is reporting increased overall revenue for its first-half performance.
The Italian manufacturer said its first-half sales rose 7.2 percent to euro 968.6 million ($1.3 billion) as its two-wheeler and light transport vehicle business both had “positive” performances, according to a company press release.
In the release, Piaggio characterized its North American sales as “substantially stable.” However, Piaggio Group USA President Paolo Timoni told Powersports Business in August that “year-to-date for June our market share in the U.S. has grown 4 percent compared to a 3 percent increase last year.”
Timoni also said the company’s scooter sales have increased by more than 20 percent.
As a company, the Piaggio Group has seen its sales increase in Europe (by nearly 17 percent) and in India (by 15.5 percent), with the latter growth coming mainly from its light transport vehicle business.
Overall, the manufacturer shipped 396,000 vehicles worldwide, a 4 percent increase over the past year period.
Group brands that have shown growth in the two-wheel segment include the Piaggio, Gilera and Vespa brands, which have had an increase of euro 26.8 million ($37 million) and the Aprilia and Moto Guzzi brands, which are up euro 10.5 million ($14.5 million).
Besides providing its first-half results, Piaggio also announced the company’s board of directors has approved a new Vespa production factory that will be built near Hanoi, Vietnam. The company is expected to invest $25 million-$30 million in the facility, which is expected to be online in two years.