MV Agusta has announced its plan to grow the Italian motorcycle manufacturer’s presence in the USA, which includes strengthening the US dealer network, “enhancing connections” with existing customers, and increasing marketing investments.
To help implement these goals, MV Agusta has turned to E.I.M. for interim and permanent executive management solutions. MV Agusta also announced its intention for similar plans in Brazil, Asia, and select European counties (read: Germany, France, and the UK).
After reporting 22% growth in Q1 2014, Giovanni Castiglioni had some closing words about the rumors that Fiat could acquire MV Agusta — a popular rumor that has been swirling around in the press the last two months.
Denying outright that MV Agusta had, or was in, talks with the Fiat-Chrysler group about an acquisition (some reports linked even MV Agusta to being bought by Fiat-owned Ferrari), Castiglioni said the Italian company solely was focused on building growth, and building motorcycles.
MV Agusta continues to build a head of steam with its sales reports, as the Varese-based company is reporting a 22% growth in the first quarter of 2014, over the same time period from last year.
Ending 2013 up 20% overall, the MV Agusta sales increase can mainly be attributed to the company’s three-cylinder models, the MV Agusta F3 675/800, MV Agusta Brutale 675/800, and MV Agusta Rivale 800.
With the MV Agusta Turismo Veloce 800 and MV Agusta Brutale 800 Dragster also recently shown to the public, the Italian company certainly has some more sales growth still to do. Also, let us not forget that MV Agusta promised us one more model to debut in early 2014.
MV Agusta had only a single new model to show at the 2013 EICMA show, its new sport-touring machine, the MV Agusta Turismo Veloce 800. An important brand extension for the Italian company, CEO Giovanni Castiglioni admitted that MV Agusta scrapped its original design for the Turismo Veloce, simply stating that the produce design didn’t have the same “wow effect” that the MV Agusta motorcycle should evoke. Developing the current iteration of the MV Agusta Turismo Veloce in just eight-months time, time will tell on whether the Turismo Veloce has been rushed to market or not.
MV Agusta has cleverly spun its recent history of releasing half-baked motorcycles to market (the press debut of the MV Agusta F3 675 and its horrible fuel-mapping are still fresh in our memory), by saying the company has adopted a strategy where its machines are in “constant upgrade” from the MV Agusta’s legion of engineers. There is an interesting story there about the sophistication of electronics now, though we would just prefer the bikes work properly in version 1.0, not 1.1.
Now raising its own bar on sophistication, the Castiglioni says that the MV Agusta Turismo Veloce 800 is the most advanced model ever to come from Varese. Time will soon tell how the sport-tourer rides (we hear it was a non-runner in the company’s promotional video), but as for the future of the Italian company, it is still full-speed ahead on other projects, which brings us to where we are today.
Some news that seemingly got lost with all the other announcements at EICMA, Giovanni Castiglioni shared at the Milan show that his road map for the future of MV Agusta includes two more yet unannounced new models, in two new market segments, which will debut in the first-part of 2014.
Right on heels of the news that Massimo Bordi has left MV Agusta, we get news from the Italian marque that Giorgio Girelli has been appointed the new Executive Vice President of MV Agusta Motor SpA. According to the company’s press release, Girelli’s appointment to the MV Agusta’s Board of Directors is part of three-year goal to take the motorcycle manufacturer’s stock to the public market. In case you weren’t sure, this is what a horrible idea looks like.
Cycle World is reporting that Massimo Bordi has retired from his post as CEO of MV Agusta, as his contract has not been extended by the Italian motorcycle maker. If you recall, Bordi was brought into MV Agusta by the late Claudio Castiglioni, after the Castiglioni family bought MV Agusta from Harley-Davidson.
Making his son Giovanni Castiglioni President of the company, and Bordi the CEO of MV Agusta, many saw Claudio Castiglioni’s choices in management appointments as a way to help ensure that there was a steady hand was on the wheel as the young Giovanni learned the ropes of his father’s business.
So, for many involved with the company in Italy, Bordi’s departure is perhaps less of a surprise than it is a natural and expected evolution at MV Agusta. For many outside of Italy, who are not caught up in the romanticism of the brand, the news could require a bit more than a casual glance though.
Some good news from Italy, as MV Agusta is reporting a sales boost so far this year for the Varese brand, with January and February up 100% over the same time period in 2012. “The new year has started well for us regardless of the negative global market trend,” said MV Agusta CEO Giovanni Castiglioni.
“We are very satisfied with our results to date. I’m convinced that they will tend to grow even further thanks to the arrival of the new RIVALE 800, for which we’ve already received many orders. We have good reason to look forward to 2013 with optimism.”
We are more than sure that the doubling in sales has something to do with the previously low volume numbers for the brand, and the nearly 50% increase in the number of models MV Agusta is now offering motorcyclists, three of which are “low price” models: the MV Agusta F3 675, MV Agusta Brutale 675, and MV Agusta Brutale 800.
Have you ever wondered what the backstory was to building a motorcycle? Perhaps no greater version of that story exists than the rebirth of MV Agusta from the hands of Harley-Davidson, and the building of the company’s supersport model, the MV Agusta F3. Making an appearance on National Geographic‘s “Mega Factories” show, the doors of MV Agusta were opened up to the film crew’s cameras, and a fairly candid look at what is behind the curtain takes place.
The reason for the show’s success is because it is always interesting to see what goes into building our favorite machines, and for motorcycle enthusiasts, the insight given by MV Agusta tells more of the saga that surrounded the development and production of the F3, and the reason for its delays to market.
MV Agusta is returning to its racing heritage next season, as the Italian company has announced that it will be fielding a factory World Supersport effort with the venerable ParkinGO team in 2013. Forging a three-year contract, ParkinGO will race the MV Agusta F3 675 in WSS, with MV Agusta providing technical support on the F3 from the factory in Varese.
Inked on what would have been Claudio Castiglioni’s 65th birthday, the agreement sees the return of MV Agusta to the World Superbike Championship series, and could be a stepping stone for the Italian brand back into the Superbike class at a later time.
A prudent ally, ParkinGO is no stranger to WSS or WSBK, having won the World Supersport title in 2011, and making a strong showing in the 2012 World Superbike season, both with Chaz Davies.
It is a tumultuous time for MV Agusta right now. Recently bought back from Harley-Davidson, MV Agusta not only changed back into Italian ownership, but the company also saw its massive debt removed, its business structure massively revamped, and its product line-up about to burst several key new models. With the passing of Claudio Castiglioni, MV Agusta lost its paterfamilias, leaving many to wonder how the company would navigate its turbulent waters.
Writing an open letter to the motorcycle industry, Giovanni Castiglioni, CEO of MV Agusta and son of Claudio Castiglioni, not only pays tribute to his father and his vision, but also aims to alleviate concerns about the next chapter in MV Agusta’s story. The path for any Italian motorcycle company right now is uncertain, and MV fans are anxious to see what Castiglioni has in store for the rebirth of this iconic brand. While we’re still seeing the tail-end of Harley-Davidson’s playbook for the Italian company, over the next few years we will begin to see the changes and projects from the new Italian regime.
Where that leadership will take MV Agusta as a brand and as a company is not immediately clear, but it is worthy to note that not only has the company changed its corporate ownership, but MV Agusta has also now undergone a generational change in its core management. Though likely not to be talked about in great deal in the mainstream, make no mistake about how this will factor into changes at MV Agusta.
With the Italian company reported facing serious cash flow problems, and a bevy of new models to debut in the coming months, all of these factors create plenty to watch at MV Agusta. Certain to be full of highs and lows, the only thing we know for certain about the company’s future going forward is that it will be interesting. Giovanni Castiglioni’s open letter is reproduced in full after the jump.