Increased scooter sales offset a drop in motorcycle sales, but both segments reported increases in net sales for the Piaggio Group in the first quarter of 2012.
According to Piaggio‘s first quarter report, the Group sold 9,400 motorcycles worldwide, down 8.2% from the 10,300 units sold in the same quarter last year. Scooter sales however saw a 7.9% increase to 79,200 units from 73,400 units. The Piaggio Group’s two-wheeled vehicle brands include Aprilia, Moto Guzzi, and Vespa, as well as Derbi, Gilero and Scarabeo.
Despite the drop in units sold, net sales from motorcycles actually increased 10.4% to 44.4 million euros (US$57.7 million) from 40.2 million euros. Net sales from scooters also increased by 8.4% to 154.0 million euros (US$200.3 million) from the 142.0 million euros reported in the first quarter of 2011. Moto Guzzi in particular had a good first quarter with revenues increasing more than 50%. Continue Reading »