While the rest of the industry walks on pins and needles, the Piaggio Group is celebrating a strong first-half to the 2019 sales year, with overall unit sales up 9.2%.
That number isn’t just all Vespa scooters though (however, the Italian brand does sell quite a few of those), as Piaggio reports that its motorcycle sales saw a 14% bump in gross revenue.
The Italian conglomerate pegs the new Moto Guzzi V85 TT for the sales boom over last year, which is quite a feat since 2018 was a strong year for the Piaggio Group as well.
As such, Piaggio has sold 215,900 motorcycles and scooters in the first half of 2019, compared to the 203,900 from the same time period last year.
On the finances side of the equation, the picture is even stronger, with net sales at €583.4 million, which is a 12.1% increase over the 2018 figure for the combination of Q1 and Q2.
For the Piaggio Group, Asia is the leading territory for growth, with a 20.2% uptick in unit sales, and a 28.8% increase in revenue.
The Western markets were strong, but not as rosy, with the combined European and American markets (we have no idea why Piaggio lumps these two markets together, FYI) showing a 4.6% increase in unit volumes, with a 9.4% increase in revenue.
All said and done, the Piaggio Group made €134.3 million (EBITDA) in the first half of this year, which is a 15.2% increase over 2018.
Source: Piaggio Group