Scooter news, anouncements and reviews  
Scooter news, anouncements and reviews

Scooter news, anouncements and reviews
Piaggio and the Zongshen Group, one of China's largest private engine and motorbike manufacturers.

Saturday 25 June marked the official production start-up, with a ceremony attended by Piaggio Group chairman Roberto Colaninno, chief executive officer Rocco Sabelli and chief operating officer Gianclaudio Neri, of the "Shuni" scooter (Chinese for elegance) developed with Piaggio technologies and patents, at the production plant of Piaggio Foshan Motorcycle, the joint venture formed last year by Piaggio and the Zongshen Group, one of China's largest private engine and motorbike manufacturers. The two partners have equal shares in the venture (45%-45%), while the remaining 10% is held by the Foshan Municipal Authority.

The mass production start-up coincided with the market launch of the Shuni, also held in Foshan and attended, in addition to the senior management of the two groups, by the joint venture's top dealers.

Developed and commissioned for production by the Piaggio Foshan Motorcycle Company in a record 10 months, the Zongshen Piaggio Shuni is a modern 50cc scooter based on the Zip project, one of Piaggio's greatest success stories. The Shuni's four-stroke engine is produced under licence from Piaggio at the Zongshen engine plant in Chongqing, with an annual production capacity of more than 4 million units, and is one of the few engines on the Chinese market that complies with Europe's current emissions standards, Euro 2, which were adopted by China this year.
 

Scooter news, anouncements and reviews
The Piaggio Motorcycle production facility in Foshan currently has a workforce of more than 400, which will rise to 1,000-1,100 to support production schedules envisaging output of around 10-15,000 machines this year, and an annual overall target of approximately 300,000 vehicles within the next two-three years, as the scooter and motorbike ranges are extended with 50, 100 and 125cc models.

The agreement with the Zongshen Group gives Piaggio a bridgehead for expansion in China (the world's fastest growing market for motorised two-wheel vehicles, with annual demand of more than 17 million units) and south-east Asia. Further opportunities could arise on the three- and four-wheel markets, which in China alone represent an estimated 1.5 million and 800,000 vehicles a year respectively.

At the Shuni scooter launch, Piaggio Group chairman Roberto Colaninno said: "The Piaggio Group is financially sound and its debt is decreasing, in part thanks to its ability to generate cash. If the turnaround continues to gather speed, not just at Piaggio, but also at Aprilia and Moto Guzzi, which we purchased at the end of last year, IMMSI will not oppose proposals to bring forward a Piaggio IPO to 2006, if the other shareholders are in agreement."

Commenting on Group performance in the first five months of 2005, chief executive officer Rocco Sabelli stressed "the 6-7% year-on-year increase in Piaggio Group net sales in the January - May period, with particularly strong growth in May. This trend, which we expect to continue in the June figures, reflects improved performance on the Italian two-wheel market, progress in Spain, the USA and India, and the recovery at Aprilia, especially in scooters, and Moto Guzzi."

As far as profitability is concerned, Sabelli said, "the Group expects to report a significant Ebitda improvement for the half-year and is already targeting consolidated break-even for full-year 2005, in part thanks to the collection a few days ago of the eco-incentives previously advanced by Piaggio and Aprilia, for 18.5 million."

Please send questions and comments to
[email protected] or call >>866.504.6577
 
Looking for Motorcycle & Scooter  Accessories to Add to Your new Ride?
Find it at parts & accessories. From helmets to luggage boxes, oils to covers, locks & battery chargers
to helmets, & gear we have it all.


Google


WE BEAT THE PRICE FOR MOTORCYCLES, SCOOTERS, ATVS, POCKET BIKES AND GO KARTS       FINANCING, MOTORCYCLES, SCOOTERS, ATVS, POCKET BIKES       PARTS AND SERVICE FOR MOTORCYCLES, SCOOTERS, ATVS, POCKET BIKES

SHOP MANUALS | WINDSHIELDS & CARGO BOXES | RAMPS & HAULERS
Beat Our Price | Financing | G Tech | Shop Now | Shipping Info | Links |
How To Order
| SITE MAP |
Home

Terms & Conditions |  Privacy Policy
scooters, motorcycles, Atv, Trikes, history, parts and service, accessories, clothing, Scooter Statistics,
Scooter Regulation
, Scooter Origins, Scooter Glossary, State Scooter Laws, Scooter Resources.
MoJo PowerSports, Inc. home of GekGo Worldwide.
All rights reserved. Designated trademarks and brands are the property of there respective owners. Use of this web site constitutes acceptance of the GekGo privacy, terms & conditions

Scooter news, anouncements and reviews

web design: MediaRocket Graphic Design By GraphicDesignmedia.com|