Piaggio Group reported a continued decrease in worldwide sales for its fiscal year.
The decrease of nearly 6 percent is due in part to the rise in value of the Euro against other currencies, the company reported.
Piaggio’s worldwide sales totalled $1.6 billion for its first nine months, which ended Sept. 30. The exchange rate effect amounted to a loss of $43.9 million, the company said.
Overall sales have picked up slightly compared to the first half, when Piaggio announced a 7 percent decrease.
While its overall sales are down, Piaggio recently noted that its retail sales in the United States grew by more than 80 percent from January-August compared to the prior-year period.