Italy’s Piaggio posted first-quarter 2025 consolidated revenue of €370.7m, down from €428m the same time last year, the company said today.
Piaggio sold 106,800 vehicles in the first three months of the year, compared to 120,300 in the first quarter of 2024.
Its gross industrial margin reached 30.5% of revenue, despite lower sales in some geographic areas.
“The beginning of the year was still characterised by international markets awaiting stability and the persistence of macroeconomic and geopolitical complexities, which we continue to address with careful management even in competitive contexts not always favourable to European industries,” CEO Michele Colaninno said in a statement.
The Vespa maker’s shares were down 8.2% today, having touched their lowest since April 2020.
