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Piaggio boosts sales in first two months

Piaggio boosts sales in first two months
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First Published: Wed, Mar 07 2007. 09 15 PM IST
Updated: Wed, Mar 07 2007. 09 15 PM IST
Rome: Piaggio & C. SpA, Europe’s biggest motor-scooter maker, boosted sales in the first two months of the year, helped by models including the new Vespa, Chief Executive Officer Roberto Colaninno said.
The company, which also owns the Aprilia and Moto Guzzi brands, sold 13,000 more units in January and February compared with the same period a year ago, Colaninno said in an interview at the presentation of the new Carnaby scooter here on 7 March. The annual increase does not include a “special order” for 27,000 scooters by the Italian post office in 2006, he said.
Piaggio had a market share of 46% in Italy in 2006, according to a company spokesman. In November the company based in Pontedera, reported that third-quarter profit was little changed from a year ago.
The company is scheduled to report 2006 figures on March 16. “Our numbers for this year should not be far from analyst estimates,” Colaninno said.
Piaggio is concentrating on growth internally, focusing on expansion in Asia, and is not planning any acquisitions, Colaninno said. The Chinese market is expected to help Piaggio reach its sales target of 1 million units by 2010, he said.
In India, Piaggio last month announced a 65 million-euro ($85 million) investment in a plant that makes diesel engines.
“Other countries we are targeting in the next three years are Vietnam, which has a very promising future, Brazil, which is a tough market but we are looking into it, and South Africa,” Colaninno said.
Piaggio started trading on Milan’s stock exchange in July, three years after Colaninno bought the scooter maker with the aim of making it profitable.
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First Published: Wed, Mar 07 2007. 09 15 PM IST
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