MV Agusta denies bankruptcy

While the internet has been abuzz with news about exotic Italian bike maker MV Agusta filing for bankruptcy, we have official communication from Ajinkya Firodia, MD, MV Agusta India, confirming that the news is baseless and far from the truth. An official press release from Giovanni Castiglioni, President and CEO of MV Agusta Motor, Italy supports the same. 

MV Agusta is one of the most exotic brands in the world of two-wheelers, and is known for its gorgeous motorcycles that boast top notch quality and refinement. The brand has seen some troubled times in the past as far as its financial stability is concerned, but that clearly is not the case currently, as clarified by Firodia and Castiglioni himself. The brand, Castiglioni claims, has seen exponential growth in the recent past and ended the year 2015 with a 100 million Euro turnover, which is a 30 percent growth in its sales as compared to the previous year, when the market registered a relatively feeble 12 percent growth. 

As opposed to current reports, the brand is looking at investments to help focus better on its research and development to ensure the strictest quality standards are adhered and also creating new benchmarks in the high end motorcycle market. The investments are also expected to be channelled towards improving MV Agusta’s presence in emerging markets, including India, where the brand is less than a year old.  

2015 thus was one of the best years for MV Agusta in its history. The brand has applied for ‘concordato di continuità’ – an agreement of continuity – which, as stated by Ajinkya Firodia can in no way be interpreted as insolvency. 

MV Agusta entered the burgeoning premium motorcycle market in India with the Kinetic Group, who has partnered with the Italian manufacturer under its Motoroyale brand. It is thus clear that the uber-premium brand is here to stay.