The Piaggio Group is reporting an 11.2% increase in its first quarter 2010 sales across its motorcycle and scooter subsidiaries compared to last year’s numbers. The group netted €2.9 million for Q1, which is noticable increase from its €4.7 million loss in Q1 of 2009. For motorcycle sales alone, the company saw a 12.4% increase unit sales, with the European market leading the charge.
Shipping 143,730 vehicles across its six brands, Piaggio is yet another company showing signs of life in 2010. Piaggio attributes part of its turnaround to a new production facility in Vietnam, which has allowed for localized production to the Asian markets. Piaggio has reported a 5x increase in Asian-Pacific sales, totaling €33.7 million.
This news comes on the heals of an announcement that shows rebounding sales in the US for the month of March. Could this be signs of the return of the motorcycle industry? Only time will tell.