KTM—or perhaps more correctly, KTM’s parent company—now holds a majority stake in Italian motorcycle manufacturer MV Agusta.
The news came out last week with a Friday announcement, but it really was no surprise to anybody who’s been paying attention. Ever since announcing an initial buy-in to MV Agusta back in the fall of 2022, KTM and its parent company Pierer Mobility have been slowly-but-surely taking over MV Agusta.
This really came to the forefront in 2023, as Pierer Mobility helped MV Agusta start rebuilding a dealer network in North America, solving an Obviously Huge Problem for the brand. The arrangement also saw MV Agusta machines serviced through the KTM North America network, solving Obviously Huge Problem #2. Then, they opened another production line at the MV Agusta plant, and announced five new models in 2023. Some were based on older technology and ideas, but still it was progress, and the new LXP Orioli adventure bike promises years of success ahead with new platforms.
But most importantly: MV Agusta turned a net profit in 2023, its first such success in years. And now, Timur Sardarov, the investor who helped turn the company around, says he believes it’s in good hands as he steps down from the CEO role:
“MV Agusta embodies passion and a unique sense of romance that captivated me, a seasoned entrepreneur, from day one. The personal challenge of guiding the company out of crisis and steering it towards success through innovative business strategies, team expansion, and new product developments has been conquered. It is an honor to play a role in shaping MV Agusta’s legacy. Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformative journey we’ve shared. My time with MV Agusta has been a pivotal chapter in my life, filled with mutual joys and challenges. As I continue to serve as a dedicated Vice-Chairman, I am committed to supporting the company and its ongoing success.”
Sardarov’s family now has a 49.9 percent stake in the company, as KTM/Pierer increases its stake from 25.1 percent (announced in fall of 2023) to 50.1 percent. Sardarov said his family is still very much in joint control of the company, so don’t see this as them abandoning the business; they’re a large minority shareholder.
What does this all mean for the consumer? It’s hard to say, for now, but given KTM’s ties to India and China, it would be unsurprising if that lower-priced overseas manufacturing capacity somehow gave birth to a lower-priced MV model while the company continues to expand its Euro production, selling premium products at a premium pricing. That idea, of moto-exclusivity, certainly sounded like the MV Agusta executives’ game plan when they were at the MMIC show circuit this winter!
