The market

Two-wheeler

In 2013, the world two-wheeler market (scooters and motorcycles) recorded a slight increase (+0.3%) compared to 2012, ending the year with 48.5 million vehicles sold.

India, the most important two-wheeler market, continued to grow in 2013, ending the year with 14.4 million vehicles sold, equal to an increase of 3.9% over 2012.

This performance was the opposite of the People's Republic of China, which continued to register declining volumes in 2013, with a decrease of 6.4% over 2012 and ending the year with just under 13 million units sold.

The Asian area, termed Asean 5, reported a slight increase in 2013 (+0.9% compared to 2012) ending the year with 13.8 million units sold. Indonesia, the main market in this area, picked up in 2013, with total volumes of over 7.7 million units and a growth of 8.5% over the previous year. Vietnam instead was affected by a slowdown, with sales volumes equal to 2.78 million units (-10% compared to 2012). After a growth phase, Thailand reversed the trend with a 9.9% fall compared to 2012 (1.9 million units). Malaysia continued to grow in 2013 (+5.2%) ending the year with 636 thousand units sold; the last country in the Asean 5 area, the Philippines, also recorded a positive growth trend, with 753 thousand units sold in 2013 (+7.1% compared to 2012).

Volumes of other Asian area countries (Singapore, Hong Kong, South Korea, Japan, Taiwan, New Zealand and Australia) increased, in overall terms, compared to the previous year, with nearly 1.27 million units sold (+2.6%). In this area, Taiwan picked up after a year of decline, ending the period with 645 thousand units sold (+6.4% compared to 2012).

The North American market, up 2% compared to 2012 (519,000 vehicles sold) confirmed its growth trend.

South America registered a decline, mainly because of Brazil, the leading market in this area which reported a downturn of 2.4%, with just under 1.6 million vehicles sold in 2013.

Europe, which is the reference area for Piaggio Group operations, continued to struggle in 2013, with sales on the two-wheeler market down 12% compared to 2012 (-4% for the motorcycle segment, and -17% for the scooter segment). In the scooter segment, the decrease refers to both the over 50cc market (-13%), and 50cc market (-20%). In the motorcycle segment, sales of over 50cc models were down (-3%), while the negative trend for 50cc models was more marked, with a -17% decline.

The scooter market

Europe
The European scooter market in 2013 accounted for 667,000 registered vehicles, with a decrease in sales of 17% over 2012.
In 2013, vehicle registrations were higher in the over 50cc segment, with 354,000 units against 312,000 units in the 50cc scooter segment. The over 50cc scooter segment decreased compared to 20125 by 13%, while the 50cc scooter segment fell by 20%.
In 2013, vehicle registrations were higher in the over 50cc segment, with 354,000 units against 312,000 units in the 50cc scooter segment. The over 50 scooter segment decreased by 13% compared to 2012 (excluding sales to the Italian post office), while the 50 scooter segment dropped by 20%.
France was the most important market with 150,000 thousand units sold, followed by Italy with 129,000 thousand units and Spain with 77,000 thousand units. The latter country ranked higher than Germany, which is now the fourth European market with 69,000 units sold, while the United Kingdom registered 31,000 vehicles. In 2013, the Italian market continued to be affected by a downturn compared to the previous year (-27%), when vehicle registrations totalled 177,000 (excluding sales to the Italian Post Office). The 50cc segment declined by 36%, with 29,000 units sold. In the over 50cc segment, 100,000 units were sold, registering a decrease of 24% compared to 2012.
The French market with 150,000 vehicles decreased by 18% compared to the 182,000 vehicles sold the previous year: this downturn was evenly distributed between the over 50cc (-17%) and 50cc (-18%) scooter segments.
The German market registered a considerable decrease (-17%) with approximately 69,000 vehicles sold in 2013 compared to 83,000 in 2012. The downturn affected both the 50cc scooter segment (-19%) and over 50cc scooter segment (-13%).
Of the most important markets, Spain, registered the least negative trend, with a decrease of -6%. This result is from a new and considerable downturn in the 50cc scooter segment (-19%), while the over 50cc segment, which has long been the most significant, recorded a modest decline (-2%).
After encouraging signs in 2012, the United Kingdom market fell by 11%, with 30,600 units sold. As in Spain, this result is due to a slight fall in the over 50 scooter segment (-5%) and a greater change in the 50cc scooter segment (-21%).

Americas
North America After two positive years, 2013 marked a downturn (-13%), with approximately 39,000 units sold: this negative trend is mainly due to the over 50cc scooter segment, where sales fell by 19% against a drop of 7% for 50cc scooters.
The scooter market in the United States (which accounts for 90% of the reference area), declined by 15%, with 35,000 vehicles sold; this trend was reversed on the Canadian market, which instead grew by 13%, with nearly 4,000 vehicles registered in 2013.

Asia
The main scooter market in the Asean 5 area is Indonesia, with just under 6.7 million items sold, reporting an increase of 4.2% over 2012. The Cub segment (vehicles with gears), confirmed the negative trend of the previous year, with an 18% decrease and 1.76 million units sold, while the automatic scooter segment increased by 15.5% (over 4.9 million units).
The second main market is Vietnam, which reported a 10% decrease with 2.78 million units sold, of which 1.65 million Cub and 1.13 automatic scooters.
This is followed by the scooter market in Thailand, which declined by 6% compared to 2012, ending the period with 920 thousand automatic vehicles sold.

India
The automatic scooter market increased by 15.8% in 2013, ending the year with over 3.3 million units sold.
The over 90cc range is the main product segment, with more than 3.15 million units sold in 2013 (+16.8% compared to the previous year) and accounting for 94% of the total automatic scooter market. The 50cc scooter segment is not operative in India.

The motorcycle market

Europe
With 452,000 thousand units registered, the motorcycle market ended 2013 with a 4% decrease: all subsegments performed negatively in 2013, with the 50cc segment most affected, dropping to approximately 30,000 units (-17%). The downturn was less marked in the 51-125 motorcycle segment (-3%, 67,000 units) and large engine motorcycle segment (over 750cc) which nearly equalled 2012 sales (-1%), with 213,000 units registered in 2013.
Lastly, the 126-750cc segment recorded the most significant loss (-7%), with 142,000 vehicles sold.
France is still the main European market with 103,000 units, followed by Germany (102,000) and the United Kingdom with 62,000 vehicles which was ahead of Italy, down to 56,000 vehicles and Spain, which ranked fifth with 30,000 vehicles.
For the third year running, Germany reported a positive trend in 2013 (+6%), in addition to the United Kingdom, which ended the year with sales up 3%. Italy and Spain faired considerably worse (both down -12% compared to 2012), while France recorded a 9% decrease.

Americas
North America The recovery of the motorcycle market in North America (the USA and Canada) which began in 2012 continued in 2013, recording an increase of 3%, and 480,000 units sold compared to 465,000 of the previous year. In the United States (accounting for 89% of the area), the motorcycle segment recorded a 3% increase, selling 429,000 units against 418,000 units in 2012. The trend on the Canadian market was better, up 7% with 50,500 units sold.

Asia
India is the most important motorcycle market in Asia, selling more than 10 million units in 2013 (nearly 10.3 million), accounting for a 1.4% 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. In other countries, the highest sales were reported in Indonesia, with nearly 1.1 million units sold and a 44% increase over the previous year; performance in Thailand was also significant, with more than 140,000 units sold and an 84% increase compared to 2012, mainly due to sales of mini bikes.

Commercial Vehicles

Europe
In 2013, 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 0.2% compared to 2012 (source ACEA data, January - December 2013). This downturn was due both to the trend of the Van segment and to Piaggio's reference segment - Chassis Cabs. In detail, the decrease affected all main European reference markets: Germany (-3.1%), France (-4.3%), and Italy (-12.5%); vehicle registrations in Spain increased instead (+ 11.1%).

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 532,267 units in 2012 to 500,834 in 2013, registering a 5.9% decrease.
Within this market, the passenger transport vehicles sector continued to fall, to 406,793 units, down by 6.2%, while the Cargo sector reported a downturn of 4.8%, from 98,816 in 2012 to 94,041 units in 2013. 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 Porter 600 and 1000. The LCV cargo market, with vehicles with a maximum mass below 2 tons and where the Porter 600 and Porter 1000 compete, accounted for 190,676 units sold in 2013, falling by 25.0% compared to 2012.