KTM is reporting reduced sales for its first three quarters of its fiscal year but increased market share in Europe and the United States.
KTM’s vehicle sales totaled more than 46,000 in its opening three quarters, a nearly 30 percent decline from a year ago, according to a company press release.
However, the Austrian manufacturer said its market share has increased in United States, where its sales were off 27 percent but the market as a whole declined 45 percent.
KTM saw a smaller market share gain in Europe where its sales decreased 19 percent whereas the market as a whole was off 21 percent.
KTM also noted it expects further market share gains later in the year.
The manufacturer reported improvements in its inventory. KTM said its own inventory was down more than 4,600 units and dealer inventories declined by more than 3,800 units. Further inventory cuts are planned by the end of the company’s fiscal year.
The company’s operating profit before EBITDA and reorganization costs dropped to $8.8 million compared to last year’s $42.3 million, according to the press release.
KTM continues to sell its relatively new sports car, the X-Bow, overseas. KTM, which has not brought the sports car to North America, sold 249 of the cars in the first three quarters and expects that number to grow to 300 by the end of its fiscal year.
Copyright 2009 Powersports Business