At the start of the year, Pierer Mobility Group acquired MV Agusta, a move that appeared to finally bring stability to the Italian brand. However, that stability has proven elusive.
A document submitted to a regional court in Ried im Innkreis (Austria) shows that the insolvency administrator is putting 50.1% of MV Agusta Motor S.p.A. shares up for sale. But that’s not all. Also up for sale are 100% of the shares KTM AG acquired in MV Agusta Services S.r.l.
According to motorsport-total.com, MV Agusta has been affected by overproduction, with around 2,000 unsold motorcycles currently stored in Austria. This situation will necessitate a reduction in production levels.
Employees in Varese are also feeling the impact, with a solidarity agreement already reached between unions and management. The deal includes a 20% waiver in wages.