We've known that things have been rough at KTM for the past few months, at least. And while I feel like I've said that a lot, it's because new details that shed additional light on exactly how rough it's been keep coming to light.
Ahead of an important meeting with AKV Europa regarding the next steps in its restructuring process, Pierer Mobility AG released some preliminary figures from its 2024 annual report. Unsurprisingly, revenues were down in 2024 as compared to 2023, by about 29 percent. Finding a negative EBITDA (to the tune of around 300 million Euros, to be more precise) probably wasn't the most fun thing for whoever put the annual report together to write, either.
But that's not all. Since this is RideApart, not FinanceApart, what were motorcycle sales like for KTM in 2024? Plenty of riders around the world are more than happy to tell you how passionate they are about riding orange. While the camshaft woes on the 790s have been a subject of debate among KTM fans for years, all of KTM's financial woes didn't really come to light until the last quarter of 2024.
KTM reports two motorcycle sales figures for 2024: one wholesale (to dealers), and one retail (to customers). In 2024, KTM reported sales of 292,497 total motorcycles to dealers. Of these, it says around 60,000 were sold to or through Bajaj, its Indian manufacturing and distribution partner. This represents a 21 percent decrease in sales over the 372,511 it sold to dealers in 2023.
However, in terms of retail sales to customers, KTM reports that motorcycle sales remained about the same in 2024 as they were in 2023. What's the magic number here? About 268,000 total bikes rolled out into the arms of waiting customers in markets around the world.
Over in its Bicycles segment (which includes both e-bikes and pedal bikes), KTM also notes that sales were down significantly, by about 32 percent over 2023 sales (106,311 units in 2024 vs. 155,859). However, it's also worth calling out here that KTM sold off the R Raymon bicycle brand that it had previously acquired earlier on in 2024, which accounts for some of this sales drop.
How these figures and accompanying projections for the future will play out in terms of KTM's restructuring process remain to be seen. We'll be following the story closely, and hope you'll join us here at RideApart as the next steps unfold.
