Ducati is reducing its 2009 production and cutting its executives’ salaries in wake of reduced sales, according to a published report.
Ducati CEO Gabriele Del Torchio told the Financial Times its U.S. sales had dropped by roughly half compared to the year-ago period. Del Torchio noted the sales decline was due in part to the difficulty consumers had in obtaining financing.
Ducati’s reduction in sales follows the U.S. industry as a whole, which was down more than 45 percent for on-road motorcycles in the first half of 2009. Ducati, however, has said it has seen significant market share improvements in several large U.S. markets this year.
In reaction to the slowdown, Ducati has cut executive salaries by 10 percent — although Del Torchio said he took a 20 percent pay cut — and will reduce production to 34,000 motorcycles. Last year, Ducati sold 42,800 bikes worldwide.
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Copyright 2009 Powersports Business