Tag: Gas Gas

For KTM AG, the checkered flag is nowhere in sight as Europe’s largest motorcycle manufacturer takes a sharp turn into insolvency proceedings in the form of self administration. There were signs of KTM’s fall from grace, but this makes it official.

Announced by Pierer Mobility AG, this “pit stop” sees KTM, Husqvarna, GasGas, and MV Agusta brands thrown into the hands of Austria’s self-administration restructuring process. CEO Stefan Pierer, who once steered KTM to record revenues, vows to fight for his “life’s work,” but the numbers paint a grim picture.

Pierer Mobility AG, home to big names like KTM and GASGAS, has been hit hard by the last few years of high interest rates and tighter purse strings. A recent announcement from Pierer reveals the gravity: board members have been slashed from six to two. That’s not a good sign. When you start cutting executives, you know the boat’s taking on water.