Bad news for fans of the Austrian motorcycle KTM – the company has filed for bankruptcy and is fighting for its survival.
According to German media, KTM’s sales figures have fallen significantly, especially in the main markets of Europe and the US, for the company from a profit of 127 million euros the previous year to a loss of 181 million euros this year. year.
High production costs, low demand and overproduction are cited as the main reasons, and some media also pay unflattering words to CEO Stefan Pierre, the eighth richest man in Austria, who, knowing the company’s problems, continued to pay generous dividends, salaries and equivalents. support politicians generously.
The motorcycle manufacturer is in an unthinkable situation, but Stefan Pierre has a plan – instead of implementing the classic bankruptcy process, KTM will use a new type of EU restructuring procedure. This means that new loans, restructuring of companies and a special austerity system will be used, which will allow the main structures to be preserved and production to continue.
It will not be easy, given the fate of around 6,000 employees and the honor of the largest motorcycle manufacturer in Europe, the collaboration that has already begun with the Indian company Bajaj and time the future of the parent company Pierer Mobility involved.
Let’s add that KTM also owns motorcycle manufacturers Husqvarna, Gasgas and MV Agusta.
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2024-11-28 02:43:00
#Motorcycle #manufacturer #KTM #files #bankruptcy
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