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Powersports Business • April 2025 • 9

Piaggio Group recently reported its 2024 sales totaling 1.7 billion euros( −14.3 % from 1.98 billion euros in 2023). A generalized downturn was reported at the dealer level, which reflected the company’ s policy to reduce inventories.

“ The Piaggio Group achieved excellent margins in 2024 thanks to careful management of productivity in a highly anomalous economic situation. The downturn in revenues is the direct consequence of the correct strategy employed by dealers all over the world to reduce their inventories. This enabled us to maintain the profitability of the distribution network and simultaneously prepare for 2025 from a pragmatic perspective. A reversal in global economic trends that would generate a solid recovery in consumer spending like the one experienced until 2023 has not yet emerged: high interest rates and the surge in inflation of the last two years have braked spending. The Asian high-end market experienced the largest contraction,” says Piaggio Group Managing Director and CEO Michele Colaninno.

Colaninno notes the company is continuing its investments in its brands, research, technology, and manufacturing to stay on the same track as the previous year.

“ Of course, we need to keep cash generation under control until the markets can return to growth,” Colaninno adds.“ We believe that, like 2024, 2025 will be characterized by many variables, but at the same time, it will show an improvement compared with last year.” Piaggio’ s decline in premium markets:

• EMEA & Americas reported −11.8 %;

• Asia Pacific −32.4 %( −30.4 % at constant exchange rates); and

• India −3.9 %( −2.6 % at constant exchange rates). The company’ s gross margin was 497.1 million euros

( −12 % from 565.2 million euros in 2023), for a 29.2 %

Piaggio Group reported sales drops in its premium brands across the board, however, scooter sales in North America gained some marketshare, and it is continuing to build its brand presence with Moto Guzzi and Aprilia.( Photo: Piaggio Group)

return on net sales( 28.5 % in 2023). Meanwhile, operating expenses for the year were 349.4 million euros( −9.1 % from 384.5 million euro in 2023). The company also reports that its EBITDA margin, at 16.9 %, was its best-ever recorded( vs. 16.4 % in 2023).

The Piaggio Group reported a net profit for 2024 of 67.2 million euros( 4 % of net sales), a reduction of 26.2 % from 91.1 million euros for 2023( 4.6 % of net sales). Net financial debt in 2024 was 534 million euros( vs. 434 million euros in 2023).

The company says the temporary increase reflects the reduction in trade payables and the trend in capital expenditure. Piaggio Group’ s capital expenditure was 182.7 million euros in 2024, an increase of 12.2 % from 162.9 million euros in 2023.

UNIT SALES In 2024, the Piaggio Group sold 481,600 vehicles worldwide( 559,500 in 2023, −13.9 %) and reported consolidated net sales of 1.7 billion euros( 1.98 billion euros in 2023).

Powersports retail giant RumbleOn released its financial results for the fourth quarter and full year 2024 on March 11 and, despite a slight dip in revenue, the company continues to make significant steps towards profitability.

RumbleOn recorded revenues of $ 269.6 million in the fourth quarter of 2024, compared to $ 311.17 million in 2023, or a 13.4 % decrease.

The company did reduce its net losses for the quarter, recording a loss of $ 56.4 million in the fourth quarter of 2024 compared to a loss of $ 168.5 million in the same quarter a year ago.

For the full year, RumbleOn saw a 11.5 % decrease in revenue, from $ 1.36 billion in 2023 to $ 1.21 billion in 2024.

The company’ s net loss for the year was just $ 78.6 million, compared to a net loss of $ 215.5 million for 2023, a 63.5 % year-over-year change.

New and pre-owned powersports unit sales decreased for the fourth quarter and full year 2024. Fourth quarter new unit retail sales were down 9.5 %, and pre-owned were down 8.8 % from the same quarter a year ago. Year-over-year retail sales for new powersports units dropped 7.1 %, and preowned fell 16.4 %

“ While our powersports segment faced headwinds, we exceeded our goal of reducing new inventory levels and generated positive free cash flow for the year,” says the company’ s newly appointed chairman and CEO Michael Quartieri.

RumbleOn is an Irving-Texas-based powersports retailer that provides new and used powersports products. As of March 28, the company is trading at $ 2.81 a share, and has a market cap of $ 106.2 million.

MotoHunt has introduced a suite of new features designed to streamline trade-in appraisals and optimize pricing strategies.

MotoHunt has integrated with Digital Power Solutions’ TradeCycle platform, allowing trade-in leads to flow into its appraisal system. This integration eliminates the hassle of manual data entry by automatically populating trade leads into the company’ s premium platform, keeping all appraisals and potential trades organized in one place.

“ With this integration, we’ re providing dealers with a frictionless way to capture, track, and convert website trade-in leads,” says Jacob Berry, vice president of growth at Moto- Hunt.“ By simplifying the process, we’ re helping dealerships maximize their opportunities from lead generation.”

INSTANT VIN SCANNING MotoHunt’ s VIN scanning technology now allows dealership teams to capture and decode VINs instantly using smartphone cameras. Dealers can now quickly pull up vehicle details and initiate trade appraisals— improving speed, accuracy, and convenience in the appraisal process.

CUSTOMIZABLE MARKET RADIUS The company has also introduced a customizable radius setting for comparable new or used listings. Dealers can now set market comparisons by state or specific mileage radius, ensuring pricing insights align with designated market areas.

“ This feature ensures that dealers are working with the most relevant and localized pricing intelligence,” Berry adds.“ It’ s all about making data-driven decisions that lead to better inventory turnover and higher profitability.”

NetSource Media announced the latest addition to its portfolio of outdoor industry services, stepping into the powersports space with its new marketing product Rev & Roam.

The new online service from NetSource creates a marketplace to buy and sell recreational powersports vehicles, including motorcycles, ATVs and UTVs, personal watercrafts and snowmobiles.

Rev & Roam provides a dedicated listing resource for powersports dealers to promote their supply via NetSource’ s inventory management console, allowing dealers to manage their inventory, review unit statistics and track sales leads.

“ With the launch of Rev & Roam, we’ re expanding our reach into the powersports market, providing dealers with a new platform to showcase their inventory,” says NetSource CEO Melissa Thrush.“ We’ re excited to bring our proven expertise in online marketplace advertising to this space and provide more opportunities for dealers to generate leads.”

Rev & Roam will compete with other powersports marketplace services, such as Polaris Xchange, which launched in 2023.

NetSource is also offering free inventory listings through Sept. 30, 2025, to any deal-

Rev & Roam provides a dedicated listing resource for powersports dealers to promote their supply via NetSource’ s inventory management console.( Image: Rev & Roam / Facebook)

ership looking for another outlet to promote their inventory.