Vespa maker Piaggio's profit nearly halves in first nine months of 2025

Piaggio & C SpA

07/11/2025 12:00

Nov 7 (Reuters) - Piaggio's PIA.MI net profit fell 49% to 31.7 million euros ($37.0 million) in the first nine months of 2025, the Italian vehicle maker said on Friday, as the market contracts under the weight of U.S. import tariffs and rising costs of commodities.

The company, known for its iconic Vespa scooters, sold 346,500 vehicles between January and September, compared to 380,000 units in the same period of 2024.

"We shall continue to respond to the current macroeconomic and geopolitical complexities with careful management of liquidity and productivity, and to take a flexible approach to growing investments," Piaggio said in a statement.

($1 = 0.8575 euros)

(Reporting by Mirko Miorelli in Gdansk, editing by Milla Nissi-Prussak)

((Mirko.Miorelli@thomsonreuters.com;))