KTM - record year and deeper ties with CFMOTO
PIERER Mobility, the KTM, Husqvarna and GasGas parent company, has reported a record year for the motorcycle manufacturer in 2020 with sales of 270,407 motorcycles (previous year: 280,099) and 56,064 e-bicycles - a 10th consecutive record year for the Group.
Sales generated turnover of € 1,530m (approx. $1.86bn). In Europe, sales to dealers were around 100,000 motorcycles and 56,064 e-bicycles. Around two-thirds of the motorcycles were sold to the dealer network in markets outside Europe, especially in North America, India and Australia.
In other news (confirmed in the final quarter of 2020), parent company PIERER Mobility AG announced an "intensification" of its joint venture with CFMOTO in China - one designed to strengthen its presence in China and expand its market share.
"In order to be able to serve the increasing market demand, primarily in China and also worldwide, the new middle-class series (750 cc) is to be produced in the newly built CFMOTO joint venture factory in Hangzhou. Production will start at the beginning of 2021 and will be supplemented in the future by further models from the 890 cc series and selected off-road models".
As a sign of the deepening of the cooperation, CFMOTO has acquired around another percent in the listed PIERER Mobility AG and thus holds around 2.05% in the company. These shares acquired by CFMOTO come from Pierer Konzerngesellschaft mbH and bodies of the Pierer Group.
