The world markets may be down, and stores may dropping out of business like it’s third period French class, but Ducati is finding the economic downturn to have an upside on its balance sheet.
Ducati’s sales revenue for the first three quarters of 2008 grew by 25% compared to last year’s figures. This means to close to $417MM in revenue for the Bologna Bandits, with their bottom line looking 87% better than before, totaling in at $41MM.
Why now brown cow? Well shipments from Desmo-central to dealer floor rooms has been up by 19% for the year so far, with sales up 8% worldwide. In the meantime, worldwide industry sales are down 6%. Evidently, those cars that people aren’t buying, is not equating into motorcycle purchases (you know…for the mileage advantage)
The Bologna Boys say they are still on track to achieve a forecast 20% growth in worldwide sales for full fiscal year, up from a predicted 15% sales growth.
How are the other European manufacturers doing?
KTM has had a 50% drop in operating profit for the full 12 months of its fiscal year, closing the books at $21MM. The House of Orange (not Oranj) is blaming this decline on a bad Dollar to Euro exchange rate, and plans to cut motorcycle production for the 2009 season by 10%.
Piaggio (owner of Aprilia, and most of Europe’s scooters) is also cutting back on production across all its motorcycle and scooter brands after depressing results for the first 3 quarters of 2008. Overall sales were down by almost 6%, falling 10% in Europe, which accounts for about 80% of its bike and scooter sales.
BMW, while slightly more insulated, is feeling the pain too, with global motorcycle sales down by 2.5% in the same period, and profit from bikes falling by nearly 16%.
In other financial news, the trade-deficit for sportbike hotness in the United States has increased another 300%. Sorry Buell.