Piaggio reported a net profit decline of 49% to 31.7 million euros ($37.0 million) for the first nine months of 2025, as stated by the Italian automobile manufacturer on Friday, with the market suffering due to U.S. import tariffs and escalating commodity expenses.
The firm, recognized for its legendary Vespa scooters, sold 346,500 units from January to September, a reduction from 380,000 units in the same timeframe of 2024.
The company indicated that its earnings prior to interest, taxes, depreciation, and amortization (EBITDA) decreased by 14.2%, amounting to 201 million euros during the nine-month duration, resulting in an EBITDA margin of 16.7%.
“The Piaggio Group succeeded in sustaining highly favorable margins and has once again augmented its gross margin compared to the previous year’s quarter,” CEO Michele Colaninno mentioned in a statement. In response to economic uncertainties both domestically and internationally, Piaggio indicated it would continue to manage its finances and operations with caution while being adaptable regarding investments. The group does not offer specific forecasts for the future but reaffirmed its long-term strategies concerning two wheeled vehicles, commercial transportation, and advanced robotics.