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DUCATI: DISTRESSED DIRECTION

Along with fellow members of Volkswagen Group’s Brand Group Progressive portfolio of luxury marques, Ducati has been affected by logistics issues, supply challenges and weakening consumer demand in the first quarter of 2024. At least it missed out on some other woes assaulting Audi, Bentley and Lamborghini. BDN financial editor Roger Willis reports.

Q1 revenue for the Bologna-based motorcycle manufacturer slumped by 18.9% to £224.2m. This was mainly attributed to shrivelling sales, especially in China. Resultant operating profit more than halved, 52.4% down to £23.1m. Operating margin sank from 17.8% to 10.5%.

Ducati’s overall global retail sales during the period fell by 16.2% to 12,394 units. Taken by volumetric deliveries to customers within each model segment, the Scrambler sub-brand was actually  21.3% up to 1423. But Naked/Sport Cruiser spanning Diavel, Monster and Streetfighter products declined by 32.4% to 3401. Dual/Hyper, which includes the Hypermotard, Desert X and Multistrada ranges, incurred a 4.1% loss to 5604. Sport, encapsulating Supersport and Panigale Superbike kit, dropped by 28.5% to 1966.

Carving the geographical pie for deliveries, Europe accounted for 64%, rising from 61%. The USA took a 12% slice, up from 11%. But Chinese consumption (including Hong Kong) was cut in half, down to 3% from 6%. Other markets represented 21%, falling from 22%.

Quarterly Ducati motorcycle production was a fairly marginal 3.2% lower on 16,652 units. Scrambler slightly more than doubled to 1889, 105.1% up. Naked/Sport Cruiser fell by 26.8% to 4833. Dual/Hyper added 17.9% to 7051, while Sport was 22% down at 2879.

€-£ currency translation at forex rates applicable on 3 May

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