The chief executive of Piaggio SpA, Europe’s largest scooter maker, on Tuesday said he expects a possible recovery in Europe’s sagging market in 2005, according to reports.
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“I think the downsizing of the market is over – we’ve reached our natural size now,” Rocco Sabelli said at a press conference to unveil new Piaggio models.
This year sales in the European scooter market have slumped below 1 million compared with 1.25 million in 2001. “We’re seeing a positive trend in a move from lower cc’s (engine size) to higher cc’s and I think we will benefit from this. Next year could be the year when we see a turnaround. We are cautiously positive.”
