Colaninno revealed Piaggio's outlook for the U.S. market during a recent investors conference in Italy.
The Piaggio Group owns the Piaggio, Vespa, Aprilia, Moto Guzzi, Derbi, Gilera and Ape brands. The Group had €1.692 billion revenue in 2007 — 51 percent of revenue came from scooter business, 20 percent from light commercial vehicle sales, 16 percent from motorcycles, and 12 percent from parts and accessories. Business in the U.S. accounted for 5 percent of the group's total revenues.
Colaninno says the Piaggio Group's five-prong plan for the U.S. includes:
1) the introduction of selected new products for Vespa and Moto Guzzi, leveraging on their brand name awareness;
2) carrying out a re-launch of the motorcycle brands;
3) further developing the dealer networks, integrating the Aprilia and Moto Guzzi networks, optimizing coverage of major target markets and improving service and support provided to dealers;
4) increasing initiatives designed to provide customers with maximum exposure to, and involvement with, the brands and products;
5) increasing the exposure of brands in magazines, on the Internet and on television.
Piaggio Worlwide Business Plan
The Piaggio Group projects revenue of around €1.95 billion by 2010.
Colaninno says the Group plans to spend the next three years "concentrating on the challenges presented by the international light mobility market, with a special focus on technological innovation, to compete on world markets as an innovator sensitive to fuel consumption and the environment."
He says Piaggio Group's business plan for 2008-2010 includes:
Piaggio Group Figures, 2007
Revenues: €1.692 billion
Vehicles Produced: 860,000 vehicles
Vehicles Sold: 710,000 units
Production Plants: Eight
R&D Facilities: Five
Dealers: 13,500 Worldwide
Countries Served: 50
The Piaggio Group's products in the U.S. include:
Piaggio Fly 50 (MSRP $1,899)
Piaggio MP3 ($7,199-$8,899)
Vespa LX ($3,299)
Aprilia RXV ($8,599-$9,299)
Shiver SL 750 ($8,999)
Moto Guzzi Norge 1200.