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What is your source that the photographer said this photo was taken in Afghanistan? I think you might have made that up.
Dude, you're an idiot...
https://www.flickr.com/photos/waezi/
https://www.flickr.com/photos/waezi/4678053718/
The description you shared is claiming this group is on a 734km trip from Hirat to Mazar-I-Sharif?
Perhaps you should check your ethnocentricity at the door and try understanding the context and significance? It feels like you may be using these people as a token to colonize this forum with your perverted ideas of race relations.
It's pronounced Bajaj.
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With seemingly more and more dealerships dropping the brand, is now a bad time to look at a new KTM?
What’s odd about this is, I thought this all surrounded the Covid boom which I thought was a dirtbike mostly thing. Yet aren’t all the models overproduced not dirtbikes?
I thought it was pronounced Bajaj?
That's the Afghan pronunciation, he is obviously using the Indian pronunciation. Did you even know they are two different countries?
What, I hadn't heard that!
I’ll sleep better tonight because I learned India and Afghanistan are two different countries. Wait no I won’t because I still don’t know how to pronounce Bajaj.
Yes, but when does Deegan race?
Just realized that The WESS Promoter Gmbh left its role as the promoters of the FIM World Hard Enduro too. The WESS Promoter thing was financed (owned?) by KTM.
So.... add that to the pile
Because I had no idea, I went to the interwebz so here you go. Buh·jaaj
Stark might be able to compete without artificial restrictions now.
Bye bye Zochling, Bajaj CFO to replace him as chairman of PMG supervisory board.
Next annual meeting in 3 weeks should be interesting.
https://www.pierermobility.com/en/newsroom/eqsfeed/2997660?type=adhoc
So...do we now call the big 4 the big 4 1/2 seeing that KTM is now an Asian bike, even though tiny in comparison?
And don't tell me they are still an Austrian bike if production stays in Austria, Honda's and Toyota's made in the US are still a Japanese car.
Probably!The same way Stark entered Super Enduro right after ABC Communication (who also had ktm as one of its financers) left the series also this season. SportUp Agency (Poland) took over Super Enduro and ProTouchGlobal (Swiss) took over Hard Enduro. BOTH ex-promoters had ties with KTM's money.
Pit Row
Wonder if Ducati will buy them out. 🤔
They already got bought out by Bajaj.
Half the bike is built in India/China already...so
2025 General meeting was today, everything has been voted, mostly replacing 3 members of the Supervisory board
https://www.pierermobility.com/en/investor-relations/general-meeting
Main interest is that the 2024 annual report is finally published, nothing earth-shattering but here are a few extracts I've found of interest
MAIN REASONS FOR OPENING RESTRUCTURING PROCEEDINGS UNDER INSOLVENCY LAW ABOUT KTM AG
High inventories at dealers with lagging high production
Production capacities were continuously expanded and increased. As dealer sales to end customers in 2023 could not increase to the same extent as KTM Group sales to dealers, there was a high dealer inventory at the end of 2023.
Comprehensive dealer financing
The sales volumes of 2023 could only be achieved by granting particularly long payment terms of 270 to even 360 days towards the end. These extremely long payment terms have led to working capital requirements almost doubling. In addition, the interest had to be borne for these long financing periods.
Increase in production costs in Austria
In the last three years, wage and salary costs in Austria have risen by around 25% and material costs by around 15%. Cost increases could only be partially passed on to end customers, which led to falling contribution margins overall.
High R&D spending, scope and complexity of product portfolio
In the last two years alone, capitalized R&D expenses increased by € 288 million.
Relatively high expenditure on motorsport
Motorsport is important for the KTM Group in several respects. On the one hand, motorsport is used by the KTM Group to gain essential insights into the further development of motorcycles and to test new technologies and developments under extreme conditions. On the other hand, racing successes vis-à-vis end customers underpin the brand positioning and contribute to brand awareness and sharpening. Nevertheless, the expenditure for the motorsport commitment was relatively high.
Loss-making business units: PIERER New Mobility and MV Agusta
In the 2024 financial year, the KTM Group sold the business with new mobility products bundled (premium bicycles and electric bicycles) in the PIERER New Mobility GmbH subgroup to PIERER Mobility AG as of June 1, 2024. As of the balance sheet date of December 31, 2024, KTM AG had financial claims against PIERER New Mobility GmbH in the amount of € 372.0 million. In the 2022 and 2024 financial years, KTM AG acquired a total of 50.1% of the shares in the loss-making motorcycle manufacturer MV Agusta Motor S.p.A., Varese, Italy, in two stages. The aim was to increase the production volume and adapt the product range in such a way that the profit zone could be reached as quickly as possible. The necessary liquidity of around € 220 million was ultimately raised by KTM AG.
Unstable financing structure
In the fall of 2024, it became apparent that the thresholds of the financial covenants could probably not be met at the end of the year. Overall, KTM's net debt, excluding receivables from financing activities, increased from € 444.8 million to € 1,607.1 million over the last 18 months. This increase is mainly due to the above-mentioned areas of financing of the PIERER New Mobility subgroup (approx. € 331 million), the MV Agusta financing (approx. € 217 million), the increase in investments in research and development and the build-up of working capital via working capital financing of approx. € 508 million.
Some interesting numbers on 2024 motorcycle market
Europe: total of 900 000 motorcycles sold (without motocross), KTM group market share rising to 11.1%
North America: 475 000 (with motocross), KTM group market share decreasing to 11.3%
Australia and New Zealand: 65 000, KTM group market share decreasing to 18.6%
India (S2/S3 segment, 150-500cc sportbikes or touring bikes priced approximately $1k-3k): 1.35M, KTM group market share decreasing to 4.5%
Rest of Asia: KTM group market share rising to 5.1%
They've sold 5889 electric motorcycles (96.3% were off-road, probably thousands of KTM SX-E, Husqvarna EE and Gasgas MC-E kids bikes and maybe a few (hundreds?) Freeride).
KTM group motorcycles revenue came at 55% from Europe, 29% from North America.
Current financial liabilities increased by € 1,640.7 million year-on-year to € 1,712.8 million. The increase is primarily due to the short-term funds raised to cover the identified financing needs, which ultimately led to the insolvency proceedings.
Sobering view of the scale of operations, in 2024 they've used 15 000 tons of steel, 14 000 tons of aluminum, 3 600 tons of plastics, 2000 tons of rubber...
Expected lifetime mileage: 70 000 km for street motorcycles, 10 000 km for offroad motorcycles.
4099 employees in Austria, 306 in the USA, 277 in Italy (MV Agusta), 175 in Spain (Gasgas)...
61% of components purchased for European production sites are from Austria, Germany or Italy, total for Europe is 85%.
The top priority is to reduce inventories. To achieve this goal, production capacities will be reduced even further in the 2025 financial year and calibrated accordingly to meet demand, but at the same time sufficient new models will be available at dealerships. As a result of these measures, the Group expects its and dealers' inventories to normalise by the end of 2025. This is in line with the management's goal of developing the previous product-related push strategy in sales from the granting of discounts to a pull strategy in which customer demand is to be increased through targeted advertising measures.
The strategic objective is to place a stronger focus on the core business of motorcycles with its premium brands KTM, GASGAS and Husqvarna. The MV Agusta brand and the associated companies and business relationships are already classified as held for sale in the present consolidated financial statements and management report; the management expects the sale to be finalised in the second quarter of 2025. In addition, work is also being done to sell the business of KTM Sportcar GmbH and thus of the X-BOW. The business activities of PIERER New Mobility GmbH and its subsidiaries are also to be discontinued by the end of 2025.
Restructuring loan with a term of 3 years, i.e. until December 30, 2028, in the amount of € 450 M from Bajaj Auto International Holdings BV, Netherlands; Repayment of existing receivables from financing activities of KTM AG against PIERER New Mobility GmbH by PIERER Mobility AG in the amount of € 200 M.
The few guys who are bellyaching about a successful long term Indian partner taking control of KTM make me chuckle.
Do you think they will do worse than the Austrian owners have done?? LOL Do you think that because they are Indian, they can do worse than the Peirer Mobility trainwreck? clueless
If they move more manufacturing from Austria to India then yes, it can get a lot worse.
Would you rather have a KTM possibly made in India or not made at all? Those were the options
So, it’s pronounced Bajaj?
You would never know if parts were made in India and the bike was assembled in Austria, they may have been doing some of that already, nobody outside KTM would know.
Post a reply to: KTM to file for Bankruptcy/ Self Restructuring on Friday