The market

Two-wheeler

The worldwide two-wheeler market (scooters and motorcycles) fell below the figure of 47 million, with a 5% decrease over 2011.  

The only major market to grow compared to 2011 was India, with an increase of 5.8%, and 13.8 million vehicles sold, overtaking China to becoming the leading market worldwide for sales.

The People's Republic of China lost its top ranking for sales of two-wheelers, registering a decrease compared to 2011 (-8.7%), with 12.6 million vehicles sold.  

After several years of growth, the Asean 5 area registered a decrease of approximately 8% compared to 2011 (13.4 million units in 2012). Indonesia, the main market in this area, registered a decrease of approximately 12.2% over 2011, with overall volumes falling to account for just over 7 million items, however it retained its position as leading nation in South East Asia. Vietnam was also affected by a slowdown, with sales volumes equal to 3.1 million units (-6.4%). Growth continued however in Thailand, up 3.1% over 2011 (accounting for nearly 2.1 million units) and in Malaysia, up 8.7% (537 thousand units), while the remaining country in the Asean 5 area, the Philippines, reported a decline, ending the year with 647 thousand items sold (11.4% down on 2011).

Volumes of other Asian area countries (Singapore, Hong Kong, South Korea, Japan, Taiwan, New Zealand and Australia) decreased slightly, in overall terms, compared to 2011, with nearly 1.24 million units sold (-2.6%). In this Asian area, sales in Taiwan fell by 5.2% compared to 2011 (606 thousand units sold), after several years of a growth trend.  

The North American market, registering an increase of 2.7% over 2011 (465,000 vehicles sold), reversed its negative trend of recent years.

South America registered a decline, mainly because of Brazil, the leading market in this area which reported a downturn of 20.5%, with just over 1.6 million vehicles sold in 2012.  

Europe, which is the reference area for Piaggio Group operations, continued to struggle in 2012, with sales on the two-wheeler market down 13% compared to 2011 (-12% for the motorcycle segment, and -13% for the scooter segment). In the scooter segment, the decrease affected both the over 50cc market (-10%), and the 50cc market (-16%). In the motorcycle segment, sales of over 50cc models were down 11%, while the negative trend for 50cc models was more marked, with a 22% decline.

The scooter market

Europe

The European scooter market in 2012 accounted for 815,000 registered vehicles, with a decrease in sales of 13% over 2011.

The over 50cc segment fared slightly better, with 424,000 vehicles registered and a decrease of 10% compared to 2011, while the 50cc segment accounted for 392,000 vehicles registered and a decrease of 16%.

Italy is the most important market with 192,000 units sold, followed by France with 182,000 units and Germany with 83,000 units. Germany has slightly overtaken Spain, which is now in fourth place in Europe with 82,000 vehicles sold, while the United Kingdom registered 34,000 vehicles. The Italian market continued its decline in 2012, down 19% over the previous year, when 239,000 vehicles were registered. The 50cc segment decreased by 32% with 45,000 vehicles sold. In the over 50cc segment, 147,000 units were sold, registering a decrease of 14% compared to 2011.

The French market with 182,000 vehicles decreased by 10% compared to the 202,000 vehicles sold the previous year: this downturn concerned both the over 50cc (-6%) and 50cc (-12%) scooter segments.

The German market also registered a decrease (-8%) with approximately 83,000 vehicles sold in 2012 compared to 90,000 in 2011. This negative trend is mainly attributable to the 50cc scooter segment which fell by 12%, while the over 50cc segment reported a slight decrease (-2%).

Spain, with approximately 82,000 vehicles sold, reported a decrease of 14% compared to 2011. In particular, the 50cc scooter segment fell by 17%, while the over 50cc scooter segment, which is by far the most important, was affected by a 13% downturn.

The United Kingdom continued its growth trend in 2012, the only main country to increase sales, with 34,000 units sold (+5% compared to 2011). This result is due to performance in the over 50cc scooter segment (+13%), which offset the negative trend of the 50cc scooter segment (-7%).

Americas

North America. In 2012 the market continued its positive trend (+4%), registering approximately 38,000 vehicles: this performance was due to the 50cc segment, where sales increased by 14%; sales in the over 50cc segment fell slightly (-4%).

The scooter market in the United States (which accounts for 91% of the reference area), grew by 8%, with 34,000 vehicles sold; the considerable downturn on the Canadian market continued, with 3,500 vehicles registered in 2012, accounting for a decrease of 24%.

South America. The South American scooter market decreased, with approximately 785,000 units sold.

Brazil remains the most important area, also for the scooter market, with approximately 459,000 items sold in 2012, down by just under 1% over the previous year.

Sales of scooters amounted to 404,000 Cub scooters (scooters with gears) (+1.4% on 2011) and 55,000 automatic scooters (-14% compared to the previous year).

In the automatic scooter segment, the 125cc category performed best, with 47,000 items sold, while the over 125cc category consolidated sales, up from approximately 3,000 units to approximately 8,000 items.

In the Cub segment, 125cc models sold the most, accounting for more than 213,000 units (+27.1%); the 51cc-115cc segment also performed well, with approximately 191,000 units sold.

Asia

The main scooter market in the Asean 5 area is Indonesia, with over 6.5 million items sold, reporting a decrease compared to 2011 of 12.5%. This decline is due to the Cub segment, accounting for 2.2 million units and a 32% decrease, while the automatic scooter segment increased by 2.8% (nearly 4.3 million units).

The second main market is Vietnam, which reported a 6.4% increase and 3.1 million units sold, of which 1.9 million Cub and 1.2 automatic scooters.

Thailand came third, with a 4.5% increase over 2011 and more than 2 million units sold (1.08 million Cub and 974,000 automatic scooters).

In Malaysia, sales accounted for 544,000 units, up 8% over 2011 (466,000 Cub and 78,000 automatic scooters). Sales in the Philippines increased by 9.6% compared to 2011, with 354 thousand units sold.

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 (1.9 million units in 2012, -4.6% over 2011) and automatic scooters (1.15 million units, down 11% over 2011).

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

In the Cub segment, 51cc to 115cc models were the best performers, with more than 1.75 million units sold, accounting for 90% of the entire segment.

51cc to 115cc models were also the best performers in the automatic scooter segment (719,000 units sold). The impact of this segment on the total market fell from 65% in 2011 to 62% in 2012, in favour of other engine categories: sales in the 115cc-125cc category fell to 209 thousand units, while they rose to 223 thousand units in the over 125cc category.

India. The over 90cc range is the main product segment, with more than 2.7 million units sold in 2012 (+25.8% compared to the previous year) and accounting for 93.2% of the total automatic scooter market. The 50cc scooter segment is not operative in India.

The automatic scooter market increased by 21.1% in 2012, closing the year with nearly 2.9 million units sold.

The motorcycle market  

Europe

Sales on the European motorcycle market fell by 12%, from 536,000 units in 2011 to 472,000 units in 2012. All subsegments decreased considerably, including the over 750cc segment (down 12% with 215,000 units sold), which had performed well in previous years. The 50cc segment continued to decline, with a decrease of 22% and sales amounting to 36,000 vehicles; the 51-125cc segment declined by 14% (69,000 vehicles registered), while the 126-750cc segment recorded a loss of 8%, selling 153,000 vehicles.

France is still the main European market with 114,000 units, followed by Germany (96,000), Italy in third place with sales of 63,000 units, while the United Kingdom (60,000 vehicles) and Spain (34,000 units) rank fourth and fifth respectively.

All these markets recorded a downturn, apart from Germany which also grew in 2012 (+1%). Growth in Italy and Spain suffered a further set back (-28% and -27% respectively); while figures for France were not as high (-12%), and the trend in the United Kingdom remained more or less steady (-2%).

In Italy, with volumes falling from 88,000 units in 2011 to 63,000 in 2012, all subsegments were considerably affected: sales in the 51cc-125cc segment fell by 28% to approximately 5,000 units, and by 24% in the 126-750cc motorcycle segment from 30,000 units in 2011 to 23,000 units in 2012. The over 750cc motorcycle segment also decreased considerably, with volumes down from 46,000 in 2011 to 32,000 in 2012 (-32%). The 50cc motorcycle segment reported sales of just under 4,000 units, down 25% compared to 2011.

Americas

North America. After a slight downturn in 2011, the motorcycle market in North America (USA and Canada) picked up in 2012 (+3%), selling 465,000 units compared to 453,000 in the previous year. In the United States (accounting for 90% of the area), the motorcycle segment performed well (+2%) selling 418,000 units against 409,000 units in 2011. Recovery on the Canadian market was more substantial, up 7%, with 47,000 units sold.

South America. The South American motorcycle market nearly reached the 1.9 million mark for units sold in 2011, of which 70% manufactured in Brazil. In 2012, sales of motorcycles in Brazil decreased by 24%, accounting for just over 1.15 million items.

Asia

India is the most important motorcycle market in Asia, selling more than 10 million units in 2012 (10.1 million), accounting for a 2.1% increase.

The motorcycle market in the Asean 5 area is far less important than the scooter sector. Sales of motorcycles in Vietnam were not significant. As for other countries, the highest sales volumes were recorded in Indonesia with nearly 776,000 items, followed by the Philippines with nearly 317,000 items, Thailand with nearly 78,000 and lastly Malaysia with just 31 thousand items sold.

 

 

Commercial Vehicles

Europe

In 2012, the European market for light commercial vehicles (vehicles with a maximum mass of up to 3.5 tons) where the Piaggio Group operates, accounted for 1.37 million units sold, down 13.3% compared to 2011. (source: ACEA January/December 2012). This downturn was due both to the trend of the Van segment and to Piaggio's reference segment - Chassis Cabs. In detail, the downswing affected all main European reference markets: Germany (-6.0%), France (-10.6%), Spain (-26.3%) and Italy (-32.0%).

India

Sales on the Indian three-wheeler market, where Piaggio Vehicles Private Limited, a subsidiary of Piaggio & C. S.p.A. operates, went up from 525,800 units in 2011 to 532,200 in 2011, registering a +1.2% increase.

Within this market, the passenger transport vehicles segment continued its growth trend, selling 433,400 units, up 4.1%, while the cargo segment reported a downturn of 9.8%, with sales falling from 109,500 in 2011 to 98,800 in 2012. The traditional three-wheeler market is flanked by the four-wheeler light commercial vehicles (LCV) market (cargo vehicles for goods transport) where Piaggio Vehicles Private Limited operates with the Apé Truk and Apé Mini. The LCV cargo market (vehicles with a maximum mass below 2 tons) in which the Apé Truk and Apé Mini are sold, accounted for 254,400 units in 2012, up 7.6% over 2011.