Piaggio Group sets up new Philippines subsidiary as premium bikes grow
Italian manufacturer strengthens its foothold in Southeast Asia with a new Philippine subsidiary targeting the region’s fast-growing premium motorcycle market.
The Piaggio Group has announced a new subsidiary in the Philippines as part of its ongoing expansion in Southeast Asia. The company says the move will give it a direct foothold in one of the region’s most important two-wheeler markets.
The Philippines currently ranks as the third-largest motorcycle market in Southeast Asia, behind Indonesia and Vietnam, and the fifth-largest globally. Around 2.3 million scooters and motorcycles are sold there each year, most of them in the commuter and budget segments.
Piaggio’s new branch will handle the import and sale of Vespa, Piaggio and Aprilia scooters, along with Aprilia and Moto Guzzi motorcycles. It will also supply spare parts and accessories locally, with the company hinting that light commercial vehicles could be a future addition. Piaggio also produces its long-running Ape brand of three-wheeled commercial pick-up vehicles and vans, the kind of vehicles that feature heavily on the roads across the Asian continent.
While the wider global market continues to face challenges, the Philippines has shown strong growth in recent years. Average incomes have risen by around 40% over the past decade, and more riders are reportedly looking to upgrade to higher-end models.
The move follows similar efforts by Piaggio to strengthen its position across Asia Pacific, with the Italian manufacturer aiming to tap into growing demand for premium European brands in markets traditionally dominated by Japanese and Chinese manufacturers.
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Simon (AKA Toad) has been working within the motorcycle industry for more than twelve years, and a member of the motorcyclist family since birth. Growing up around British-built single and twins, it was inevitable that a life on two wheels was on the cards, from a very early age!
