In December, the total registrations of mopeds, scooters and motorcycles in Italy recorded an increase of 4.55% on an annual basis, reaching 9,200 units. This was announced by Confindustria ANCMA (National Association of Cycle Motorcycle Accessories).
In detail, scooters continue to run, with a double-digit increase in December: +11.52% and 4,482 registered vehicles. The growth of motorcycles was more contained, which in any case registered 3,763 units and recorded a +3.95% on the same month of 2021; first setback for mopeds, positive since May, placing 955 units on the market corresponding to a drop of 17.74%.
The two-wheeler market closes 2022 with over 2,700 vehicles registered more than in 2021 (+0.95%). Scooters, which had lost more than 13,000 units between February and September, only partially managed to recover ground, stopping at 143,845 vehicles, corresponding to a drop of 4.84%. On the other hand, the performance of motorcycles was very good, closing with 126,571 units and an increase of 6.35%; finally, the closure of mopeds is double-digit which, with 21,245 vehicles, marks a growth of 13.3%.
“After the solid performance in October and November, the Italian market remains positive also in December, led by the scooter segment which continues to benefit from the normalization of supply problems, with the return to full availability of some models (problem which has impacted above all the Piaggio’s Asian competitors over the course of the 9 months of 2022)”, write the Equita analysts.
“The month of December is seasonally of little significance for the two-wheeler market, representing around 3% of annual volumes. The Italian two-wheeler market accounts for approximately 11% of Piaggio’s turnover. After the data from the Spanish market, also the volume trend of the Italian market in 4Q (+24%) is higher than our estimate of volumes for the fourth quarter in Europe for Piaggio (mid-single digit decline). Our current Piaggio estimates forecast a 4.5% growth in sales volumes in Western Countries in 2022 followed by a high single digit decline in 2023. Piaggio trades at 15-14x PE adj. 2022E-23E”, concludes the Sim.