Piaggio Group: Worldwide sales down nearly 6 percent

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.

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