Header Relazione

Two-wheeler

In the first half of 2011, the world market for motorised two-wheelers exceeded 25 million vehicles sold, a 4% increase compared to the same period in 2010.

This strong growth trend is mainly due to the Indian market, with 6.3 million vehicles sold and an 18.2% increase compared to the previous year, becoming the country with the highest growth rate in percentage terms in the first six months of 2011.

China is still the world's leading market with more than 8 million vehicles sold, but sales dropped by more than 9% compared to 2010.

The Asian area, known as Asean 5, also made a major contribution to growth on the world market, registering an increase of +10.2% (over 7 million units sold). Indonesia ranked top in this area, with a growth rate of 13% and sales volumes topping 4 million units, to account for 55% of sales in South East Asia. Vietnam consolidated its position as second market in the area, with nearly 1.5 million units sold (+16%) followed by Thailand with 900 thousand units sold (-2.6%). while the last two Asean 5 countries, the Philippines and Malaysia, increased sales volumes by +1.6% and +1.0% respectively.

In other Asian countries, the development of the Taiwanese market was important, with an 18% growth in the first six months of 2011, bringing total sales to more than 280 thousand units.

The North American two-wheeler market continued to be affected by the world crisis. However, during the first half of 2011, this decline was extremely limited compared to 2010 (-1%) with approximately 290 thousand units sold. Sales in the United States, which account for approximately 90% of the entire area, increased by 1% with approximately 257 thousand units sold.

The growth trend in Latin America continued in the first half of 2011 (+8%) mainly due to increased sales in Brazil (the area's reference market), with more than 1 million units sold, equal to an increase of 18% compared to the first half of 2010.

Europe, the main reference area for the Piaggio Group, continued to be negatively affected by the global economic recession and reported a decrease in sales of 7% compared to the first half of 2010, which affected the scooter (-8%) and motorcycle (-6%) segments. Both the over 50cc (-7%) and 50cc (-6%) sectors reported sales decreases. In particular, in the over 50cc segment, scooter sales decreased by 9%, while motorcycle sales fell by 6%. In the 50cc segment, scooter sales dropped by 6% and motorcycle sales by 5%.

The scooter market

Italy

The Italian scooter market closed the first half of 2011 with 144 thousand vehicles registered, accounting for a decrease of 18% compared to the 176 thousand vehicles of the same period in 2010.

The decrease concerned both the 50cc segment (-18% with 36 thousand units sold) and over 50cc segment, with 108 thousand units sold, equal to a 19% decrease compared to the first half of the previous year.

Europe

In the first half of 2011, sales on the scooter market in Europe fell by 8%, from 569 thousand units in the first half of 2010 to 525 thousand in the first half of 2011.

The 50cc scooter segment performed badly, with a 6% decrease in sales, and the number of vehicles sold falling from 272 thousand units in the first half of 2010 to 256 thousand units in 2011.

The over 50cc scooter segment was affected to a greater extent, with a 9% decrease in sales and the number of vehicles sold accounting for 270 thousand units compared to 296 thousand in the same period in 2010.

Italy is still the most important market in Europe, with 144 thousand units sold, followed by France with 99 thousand units and Germany with 57 thousand units. Spain ranked fourth with 48 thousand vehicles, while the United Kingdom ended the period with 16 thousand units sold.

The French market grew by 3% compared to the previous year, from 97 thousand to 99 thousand units. This increase was driven by the 50cc scooter segment, with sales increasing by 12%, while sales in the over 50cc segment fell by 8%.

The German market was affected by a downturn (-5%) with approximately 57 thousand units sold in the first half of 2011. This negative trend was due to the 50cc scooter segment, which fell by 11%, while the Over 50cc scooter segment grew by 7%.

The Spanish market was hit by a considerable decrease of 11%, with 48 thousand vehicles sold. This poor performance was caused above all by the sharp drop in the 50cc scooter segment (-30%), while the downturn in the over 50cc segment was less accentuated (-5%).

The British market grew by 17% compared to the same period in 2010, with just under 16 thousand vehicles sold. Both the 50cc (+7%) and over 50cc (+25%) segments improved.

North America

Sales on the North American scooter market increased in the first half of 2011 (+20%) totalling 21 thousand units. Sales in the United States (which accounts for 85% of the reference area) picked up considerably (+28%), to stand at 18 thousand units. The over 50cc scooter segment performed best (+52%), while the number of vehicles sold in the 50cc scooter segment also increased (+3%).

South America

Brazil continues to remain the area of greatest importance including for the scooter market reaching 234,000 units in the first six months, for a growth of 35.5% compared to the first half of 2010.

Sales of scooters amounted to 204,500 Cub scooters (scooters with gears) (up +33% over the first half of 2010) and 29,300 automatic scooters (up +55% compared to the same period of the previous year).

In the automatic scooter segment, models up to 125cc ranked top with around 25,000 units sold (+40% compared to the first six months of 2010), while models over 125cc rose from 1,000 in the first half of 2010 to 4,300 in the same period of 2011.

Vietnam

The Vietnamese market mainly concerns scooters, as sales in the motorcycle segment are not particularly significant. The two main product segments are Cub scooters (924 thousand units in the first half of 2011, +14% over 2010) and automatic scooters (356 thousand units, up 16% over 2010).

The 50cc scooter segment is not operative on this market.

In the Cub segment, 51cc to 115 cc models were the best performers, with approximately 830 thousand units sold, accounting for 90% of the entire segment.

In the automatic scooter segment, 115cc-125cc models ranked top (56.3%), with 102 thousand sold in the first half of 2011, and a two-fold increase in sales over 2010. The 51cc-115cc segment decreased by 6.5%, while sales in the over 125 cc segment went up from 1,520 units to approximately 2,800.

The motorcycle market

Italy

In the first half of 2011, the motorcycle market (including 50cc motorcycles) in Italy fell by 10%, from 66 thousand units in the first half of 2010 to 59 thousand units. This performance is mainly due to the downturn in the 51cc-125cc motorcycle subsegment (down by 13%, with sales of 4 thousand units) and the 126-750cc motorcycle subsegment (down by 23%, with sales of 20 thousand vehicles). Large engine motorcycles partly offset the negative trend of other segments. Sales in the first half of 2011 went up to 33 thousand units against 32 thousand in 2010 (+1%). The 50cc motorcycle segment declined, with just under 3 thousand units sold (-7%).

Europe

On a European level, sales decreased on the motorcycle market (including 50cc motorcycles) in the first half of 2011, from 360 thousand units in the first half of 2010 to 339 thousand units in the same period in 2011 (-6%). The most significant downturn was in the 126-750cc segment, with sales falling from 125 thousand units in 2010 to 106 thousand units in 2011 (-16%). This was followed by the 51-125cc segment, with sales dropping from 48 thousand units to 44 thousand units (-8%) and the 50cc segment, with sales falling by -5% and 25 thousand units sold in the first half of 2011.

Like the Italian market, aggregate European figures for the over 750cc motorcycle segment showed an increase in the first half of 2011 (+2%), with more than 165 thousand units sold.

France remained the leading European market (76 thousand units), followed by Germany, with 66 thousand units, which was ahead of Italy with 59 thousand units, and the United Kingdom (35 thousand units) and Spain (26 thousand units).

North America

After a considerable decline following the world crisis, sales on the North American motorcycle market dropped only slightly in the first half of 2011 (-2%), and this was mainly attributable to the Canadian market.

During the period in question, sales volumes in the United States were steady compared to the previous year. Over 750cc motorcycles accounted for 62% of the market, with a 3% increase, which offset the loss of the 50cc motorcycle segment (-36%); the 51-125cc motorcycle (-20%) segment and 126-750cc (-2%) motorcycle segment.

South America

The South American reference market for motorcycles is also Brazil.

Motorcycle sales in Brazil in the first six months of 2011 grew 13.9% with 798 thousand units sold.

Top ranking models are in the 126cc to 300cc with 477 thousand units sold in the first six months of 2011, an increase of 25.6% over the same period of the previous year.