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Moto blog

Piaggio Reports 2012 Sales Results

The Piaggio Group reported a 7.3% decrease in net sales and a 9.0% decrease in net profit for 2012, thanks in large part to a sharp decline in demand in Europe including an all-time low for motorcycle sales in Italy. Piaggio reported net sales of 1.406 billion euros (US$1.842 billion) in 2012, down from 1.516 billion euros in 2011. Motorcycles and scooters accounted for net sales of 993.3 million euros  (US$1.301 billion), a 3.1% decrease from 1.025 billion euros reported for 2011.

Small steps to a bright future

A small but very significant addition to the BSB paddock in 2010 has been the Racing Steps Foundation GP125 team.  RSF is an organisation founded by wealthy businessman Graham Sharp, to help talented youngsters with no funding make their way up the motorsport ladder. As a boy, Sharpe wanted to become a racing driver but soon realised without a serious amount of cash, this was virtually impossible. He never forgot this dilemma so is now in the business of making dreams come true for young UK racers in Karting, GP2 and Motorcycle Racing.

Piaggio Secures €60 Million Loan to Fund Research and Development

The Piaggio Group announced it has secured a €60 million (US$77.6 million) financing deal with the European Investment Bank to fund the development of new products. The seven-year loan will fund research and development projects at Piaggio’s Italian facilities. The loan is in addition to investments Piaggio already budgeted for the period from 2013 to 2015 to develop new products.