Latest news with #Piaggio
Time of India
29-05-2025
- Automotive
- Time of India
Piaggio will soon take a call on launching new scooter range in India
HighlightsPiaggio will evaluate plans in June 2025 to enter India's mass scooter segment, moving beyond its premium Vespa brand. India could become an export hub, with new scooters also targeted for the African market. Piaggio is cautious on electric two- and three-wheelers in India due to low margins, despite having products ready. Global markets show mixed trends, with optimism in Vietnam but continued challenges in China and other parts of Asia. Piaggio will begin evaluating the results of its studies on launching a new scooter range for India in June this year. This was revealed by Michele Colaninno , Chief Executive Officer, in a recent Q&A session with analysts in Italy following the company's first quarter results for January-March. The company believes it is high time to enter the mass scooter segment in India 'as we see that we can match the competition now given that the GDP per capita is growing and we think we are now able to compete with other brands'. Colaninno had already indicated in recent times that Piaggio had a great opportunity to be part of the growing scooter segment in India which meant that it had to think beyond the niche premium positioning of Vespa . The feedback in June will show if the Italian automaker is confident of offering a competitively priced scooter range that can strike a chord with Indian customers. Also read: Piaggio CEO says it's time to look at mass segment scooters for India Passage to Africa If things do go according to plan, the new two-wheeler range produced in India will also be shipped out to Africa as part of a larger global strategy for Piaggio. 'As far as other markets are concerned, let's say we are thinking about going into Africa, as you know from India. And I confirm to you that strategically, in the medium to long term, it is a good opportunity for us. And I think that Africa could be the next India for our business,' said Colaninno. It was sometime in July last year when he first spoke of Piaggio's intent to look at a larger part of the Indian scooter pie. 'The mistake we have done in the past is more on the scooter side, where we have not been able to face the competition of low-cost vehicles. We have put in place a new team that will start from now, especially to target those kinds of vehicles,' said Colaninno. While the company would continue to be in the high/premium end with Vespa and Aprilia models, he added that this perhaps was not enough in terms of the overall scooter strategy. 'But at the same time, I think we have to be ready and able, more able than ready to fill the gap, let's say, with the competition that we have on scooters,' he said. If you take the Honda Activa, if you take TVS, they produce millions and millions of Colaninno There was a specific reference to competitors who have had a good run in the mass scooter space where numbers continue to grow at a brisk pace. 'If you take the Honda Activa, if you take TVS , they produce millions and millions of vehicles,' Colaninno pointed out. The Piaggio CEO was, however quick to add that such a comparison would not be apt. 'You cannot compare us with Honda, obviously, which has been there in the two-wheeler market for years in India. But we have…I think that we will take the right decisions to be ready and to enter the big volume market there. Not with the Vespa, not with the bike.' Upbeat about India The recent analyst session clearly reaffirmed the CEO's optimism about the Indian market and why he believed that it was imperative for his company to play a bigger role here. 'I am positive on India, I think it is a good place to be in. It is an enormous opportunity to be there…we will launch electric vehicles in the next (few) years and will continue to launch also thermic (internal combustion engine) vehicles in India in the next years,' he elaborated. The generous feedback for India continued with Colaninno insisting that it was a place where Piaggio was growing at an earnings level and that it was 'happy' about being there. 'We will introduce totally new vehicles in India because it is a different market. But for Europe and the US, I don't see the necessity to introduce totally 100% new vehicles,' said Colaninno Also read: Vespa maker Piaggio posts record margin despite 'anomalous' economy As far as electric mobility options for India was concerned, the company preferred to adopt a wait-and-watch attitude even while the transition was happening quite rapidly. 'The market is still going well. Electric mobility in India in the three-wheeled and two-wheeled business is low-margin. We have the vehicles, but we are not pushing, just waiting to see better purchasing power and reducing costs in the country,' he said. More specifically on electric three-wheelers, a segment that is growing quite fast, Colaninno pointed out that Piaggio was familiar with this business in India. 'We have 2,000 people there in a big factory. The three-wheeled electric vehicle market is subsidised and the state is putting money for this. We have the vehicles, no problem,' he added. Low margins inevitable In his view, the margins are 'lower for everybody' and it was not as if Piaggio was at a disadvantage compared to competition. The company plans to push mostly in big Indian cities and not for rural areas where the electric market is 'zero'. 'Given that we have done investments and we have the vehicle, we will be on the market. Obviously we are happy about the thermic engines that are more rural in India and we are gaining some market share over there in the specific segment,' said Colaninno. Asia is down, the consumer market is not recovering, especially in the premium market, even though we saw Vietnam in the last quarter that has shown, let's say, a plus. Even if it is a small plus, it is a plus compared to previous Colaninno While there was ample cause for cheer when it came to India, the scenario for Piaggio was not all hunky-dory elsewhere. 'Asia is down, the consumer market is not recovering, especially in the premium market, even though we saw Vietnam in the last quarter that has shown, let's say, a plus. Even if it is a small plus, it is a plus compared to previous quarters,' said Colaninno. And Vietnam, according to him, was 'very important for us, because it is a good market, it is a rich market and it is a high margin market'. Piaggio would now wait to see a 'rebirth' of the Asian markets. 'There is some slightly positive event in Vietnam. Thailand and Indonesia are still interesting for us,' he said. China strategy China, likewise, was 'still suffering' with the automotive market showing low numbers. Piaggio has a production facility in the country that is in the midst of restructuring and will be ready by the end of 2026. 'We are thinking of launching dedicated products for China market with our brands,' said the CEO. However, given that it is home to one of the biggest electric mobility businesses in the world, 'we will invest in those kind of vehicles' for the Chinese market. 'For the time being, it is not for exports, because outside of China, that business is still very, very low. We are investing, we will continue to invest in all the technologies — thermic engines, safety, electric engines — because we think the market will evolve, it will take time, but we will be ready to fulfill the needs of the customers, whether it is thermic or whether it is electric,' reiterated Colaninno.
Yahoo
25-05-2025
- Yahoo
1 dead after car crashes into motorized scooter in Orange County
According to Highway officials, a 2012 Piaggio LX moped rider died in a collision with a 2007 Hyundai Santa Fe on Landstreet Road near Avenue C. The accident happened as the moped was traveling east in the outer lane and had slowed down for traffic. The SUV, also moving east in that lane, did not slow down and collided with the moped from behind, throwing the rider off. The rider was taken to Orlando Regional Medical Center, where they were pronounced dead. The driver of the SUV was unharmed and remained at the scene. This incident is still under investigation. Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
Forbes
23-05-2025
- Automotive
- Forbes
Fiat Channels Its Inner Piaggio Ape With Its Electric Last-Mile Tris
Fiat Professional has trodden on Piaggio's toes with its Tris electric last-mile commercial vehicle. ... More Photo: Fiat Professional. Fiat Professional has trodden on Italian automotive iconography with its Tris electric three-wheeler concept for Africa and the Middle East. The Tris clearly owes its design roots with the long-running Piaggio Ape (pronounced 'ah-pay'), which is Italian for 'bee'. Designed by its Centro Stile design studio, the Tris is Fiat's attempt at solving the last-mile delivery problem, using small, nimble commercial vehicles - much like the Piaggio Ape has done since 1948, and still does. Piaggio has been making the three-wheeled Ape commercial vehicle in Rome since 1948. Photographer: ... More Alessia Pierdomenico/Bloomberg Piaggio offers the Ape 50 (with a 49.8 cubic centimeter petrol engine) and the Ape TM, with a 218cc petrol or a 422cc diesel engine, and they can carry up to 1,775lb while sipping at a rate of 71mpg. A cult icon, Piaggio even had a racing version of the Ape, dubbed the Ape Proto. The Piaggio Ape was designed to navigate medieval Italian cityscapes. Photo: Wolfgang ... More Kaehler/LightRocket via Getty Images. The difference is that the Fiat Tris is, the company claims, electric, with zero local emissions. The Tris isn't just a concept, though, and is headed to Italian production for African and Middle Eastern markets at what Fiat claims is an affordable price. It can be charged from any domestic power point, and has a built-in 220-Volt plug, with an integrated charging system.
Yahoo
12-05-2025
- Automotive
- Yahoo
Piaggio & C. SpA (PIAGF) Q1 2025 Earnings Call Highlights: Navigating Market Challenges ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Piaggio & C. SpA (PIAGF) maintained a strong gross margin of 30.5% despite a decline in revenues. The company has improved its processes and productivity management since 2022, starting from a 25% gross margin. Piaggio & C. SpA (PIAGF) is investing in electric mobility, particularly in China and India, to align with market trends. The company is managing cash flow effectively, with a reduction in inventory value by 20 million compared to last year. Piaggio & C. SpA (PIAGF) is exploring new markets, such as Africa, which is seen as a promising opportunity similar to India. Overall market demand for two-wheel and four-wheel vehicles has declined globally, affecting revenues. The USA market is down by 10%, with uncertainty around tariffs impacting consumer confidence. The Asian market, particularly China, is still suffering, with low numbers for imported vehicles. Electric mobility in India is a low-margin business, and the company is cautious about pushing aggressively. The geopolitical situation and currency fluctuations pose challenges to maintaining profitability and forecasting future performance. Warning! GuruFocus has detected 6 Warning Signs with PIAGF. Q: Can we expect a reversal of the negative revenue trend in the second quarter, particularly in Europe? A: CEO Michael Conanino stated that predicting revenue trends is challenging, but he does not expect a significant jump in sales for the second quarter. However, he anticipates some positive results by the end of the year, as the second half of the previous year was affected by declining volumes. Q: Are you confident with consensus expectations of net debt at roughly 480 million, or can we do better? A: CEO Michael Conanino mentioned that cash generation is a consequence of revenues, and while the target is to be around 500 million, they aim to keep it lower than 500 million, acknowledging the challenging situation. Q: Is there a strategic shift away from scooters, given the focus on motorbikes? A: CEO Michael Conanino clarified that there is no strategic shift away from scooters. The company continues to upgrade existing models and maintains a strong presence in the scooter segment, which remains profitable and cash-generative. Q: Is it reasonable to expect gross margins to remain high throughout the year? A: CEO Michael Conanino indicated that they aim to maintain the current gross margin levels, acknowledging that logistics costs and other factors could impact this. However, they are working to sustain these numbers. Q: How are you managing the competitive environment in Europe, particularly regarding pricing strategies? A: CEO Michael Conanino emphasized that they are maintaining their pricing points and avoiding entering into a price war. They focus on brand equity and strategic promotions rather than significant discounts. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
09-05-2025
- Business
- Forbes
‘Italy On Madison,' A Pop-Up Showcase Of Italian Style In New York
Vespa is an iconic Italian motor scooter manufactured by Piaggio, one of many symbols of Italian design and manufacturing getty The Italian Trade Agency (ITA) is inviting the public to experience authentic Italian lifestyle and culture at its Madison Avenue townhouse in New York City. For the first time, the much-anticipated third edition of Italy on Madison will take place at the beautiful ITA headquarters. On Wednesday, May 14th and Thursday, May 15th, 2025, more than 90 Italian brands—spanning fashion, design, beauty and wellness, food, and wine—will offer visitors a unique, immersive experience akin to a trip to Italy. The ITA is housed in a historic five-story townhouse at 33 East 67th Street. Constructed at the turn of the 20th century, the neo-Georgian-style mansion was commissioned as a residence for Hugh D. Auchincloss, a prominent businessman and financier. The showcase will recreate the ambiance of an Italian home and the rhythms of Italian life with a collection of more than 100 pieces by over 40 iconic Italian brands and designers. Each room will focus on a different aspect of the Italian lifestyle. INTERNI, a leading interior design and architecture publication, curated the exhibition. 'With Italy on Madison, we are not just showcasing products,' says Erica Di Giovancarlo, Commissioner Director of the ITA in the U.S. in a press release announcing the event. 'We are inviting the public to experience the spirit of 'Made in Italy' in a deeply personal and sensory way.' Recognized globally, the 'Made in Italy' brand is synonymous with excellence in creativity, quality and craftsmanship. On the runway at Milan Fashion Week getty The series of masterclasses, demos and experiences led by experts will include: Face Yoga: Glow & Let Go! A wellness session blending facial yoga with premium Italian skincare brands Framed and Styled the Italian Way Live hairstyling and trends in Italian opticals Casa Italiana Talk A conversation on the future of Italian design, interiors and sustainable craftsmanship, and a talk on the relationship between design and history Fashion Photoshoot: Behind the Scenes A renowned fashion photographer and elite runway models will honor Italian fashion Stirred in Italy: An Immersive Risotto Experience Chef Riccardo Orfino will prepare this iconic dish with elegance and flair Wine & Spirits Activation: What Drink Are You? A playful tasting experience The complete Italy on Madison program can be found here: Events are free of charge, but registration is required and spots are limited. About the Italian Trade Agency Italy on Madison is hosted by the Italian Trade Agency (ITA), the governmental agency that supports business development of companies abroad and promotes foreign investment.
