Piaggio's Global Sales Decline 34 Per Cent In Q2 2020

Two-wheeler sales of the Piaggio Group declined by 24.5 per cent in the second quarter of 2020.

By Carandbike Team

1 mins read

Published on July 31, 2020

Highlights

Sales in India witnessed the sharpest decline of 58.4 per cent
Overall two-wheeler sales fall by 24.5 per cent in first half of 2020
Piaggio still dominates scooter segments in Europe and US markets

The Piaggio Group has announced its half-yearly numbers for 2020, and like with most other two-wheeler manufacturers, Piaggio seems to be also facing pressure due to the ongoing COVID-19 pandemic. In the first half of 2020, (January to June), the Piaggio Group sold 210,300 vehicles worldwide, a decline of 34.5 per cent over the 321,500 vehicles it sold in the same period a year ago. Piaggio reported consolidated net sales of over 600 million Euros, a decline of 26.5 per cent from 817 million Euro in the first half of 2019. Net profit for the first half of 2020 is at 9.1 million euro, over 73 per cent decline from 34.6 million euro in the first half of 2019. Also Read: Piaggio Group Secures 60 Million Euro Loan To Fund R&D Efforts Sales of scooters from the Vespa and Aprilia brands remain strong in the US and EMEA markets Piaggio's worldwide two-wheeler sales, across Vespa, Aprilia and Moto Guzzi brands stood at 1,63,000, a decline of 24.5 per cent from 2,15,900 units in the same period in 2019. While sales in the Asia Pacific region managed to limit the downturn with 9.6 per cent decline in sales volumes, the overall decline arose largely from downturns in Europe, Middleast and Africa (EMEA) markets, as well as American and the Indian market. India exhibited the sharpest fall of 58.4 per cent sales over the same period last year. EMEA and Americas markets showed a decline of 20.5 per cent sales. Also Read: Piaggio India Launches Online Sales Platforms For Vespa, Aprilia Brands Piaggio India CEO & MD Diego Graffi with the Aprilia SXR 160 at Auto Expo 2020 According to Piaggio, the group confirmed its leadership in the European scooter segment with a share of 24.1 per cent and maintained a strong positioning in the North American scooter market, with a share of 23.9 per cent. In North America, the Group is also consolidating its presence in the motorcycle segment with the Aprilia and Moto Guzzi brands. The scooter segment saw an increase in Vespa sales in a number of Asian countries, most notably China. In India, the Piaggio Group has been on a solid growth trajectory over the past few years. The Aprilia SXR 160, pictured above, is expected to be the next Aprilia scooter to be launched in India.