Piaggio Group’s first-half 2026 results reveal different speeds across its product categories. Worldwide vehicle sales reached 258,700, up 8.5% year on year. Of that total, 185,600 were powered two-wheelers, whose volume increased by just 0.4%.
The group includes Piaggio, Vespa, Aprilia and Moto Guzzi, while Ape and Porter represent its light commercial vehicles. Its overall result therefore covers a broader business than motorcycles and scooters alone.
The half-year report puts scooter volume at 161,000 units, up 3.1%. Motorcycle volume fell 14.4% to 24,600 units. Commercial vehicle sales rose 36.6% to 73,100. These are manufacturer sales volumes, rather than figures for new registrations in Latvia.
Total revenue was €841.9 million, down 1.2% from the previous first half; at constant exchange rates it increased 3.2%. Comparing these figures shows why units sold and revenue can move differently. When reading industry results, both the product category and the basis of comparison matter.