The KTM saga is probably one of the crucial intriguing tales we’ve seen unfold within the automotive world in current instances. It’s been a relentless rollercoaster, and simply once we thought issues have been nearing normalcy, one other bump seems.
KTM proprietor Bajaj Mobility AG lately printed its preliminary gross sales figures for 2025, and the numbers don’t look good for KTM.
Right here’s the massive information: income was down a whopping 46%, and gross sales fell 28.3% in comparison with the earlier yr. Even different Bajaj Mobility AG manufacturers Husqvarna and GASGAS weren’t spared, reporting year-over-year gross sales slumps of 27.2% and 19.5%, respectively.
KTM
“Bajaj Mobility AG studies on a monetary yr formed by intensive structural changes and the implementation of key restructuring measures. Regardless of operational constraints within the first half of 2025, the general annual trajectory exhibits a transparent stabilization of the financial basis,” reads Bajaj’s preliminary report.
I’m baffled by Bajaj’s remarks right here. How do these numbers translate to stabilization? That stated, it’s price noting that these figures are preliminary and will change primarily based on audit findings, as they haven’t but been independently reviewed.
To really perceive the severity of KTM’s plight, let’s break down the numbers. In 2025, KTM offered a complete of 209,704 bikes. Of those, 85,284 models have been offered within the first half of the yr, whereas 124,420 bikes have been offered within the second half. On paper, that doesn’t look too dangerous, proper?
Bajaj
Let’s dig deeper. A good portion of those figures comes from Bajaj-produced bikes. This contains 78,906 models within the small-displacement class, protecting fashions within the 390 sequence and under. Should you deduct these from the full, you’re left with simply 130,798 bikes from KTM’s core portfolio.
Extra importantly, it’s unclear what number of of these bikes got here from present KTM manufacturing. We do know the corporate ended 2024 with a bloated stock.
KTM states that “group-wide bike inventories have been lowered by 101,153 models through the yr – from 248,580 models at year-end 2024 to 147,427 at year-end 2025.” Does that suggest older bikes made up a good portion of the 130,798 models offered? No one is aware of.
As for income, KTM reported a mammoth 46% year-on-year decline to €1.009 billion (round US$1.09 billion) in 2025. In its report, the corporate attributes the droop largely to the restructuring part within the first half of the yr.
through Unsplash
All of it started towards the top of 2024, when KTM halted production because of mounting monetary strain. Hundreds of layoffs and fears of near-bankruptcy led the corporate into self-administration because it entered a restructuring course of.
Within the months that adopted, MV Agusta was cut loose from the portfolio, structural modifications have been introduced, and a €548 million (US$576 million) restructuring plan was accredited. Extra lately, Bajaj Auto took management from Pierer Mobility AG because the parent company of the Austrian bike maker. An extended highway certainly.
For a second, it appeared issues have been lastly heading again towards normalcy. Manufacturing resumed, new bikes started rolling out once more, launches adopted, and a way of anticipation slowly returned to the model.
Regardless of KTM’s poor gross sales efficiency, the Bajaj Mobility Group’s total 2025 monetary image was noticeably stronger. Web debt dropped from €1.643 billion (US$1.94 billion) to €798 million (US$943 million). In its residence market of India, Bajaj’s domestic sales rose rose 26% yr on yr. That does counsel KTM is now in steadier fingers.
KTM
Nonetheless, it’s an extended highway again. If turbulent instances educate us something, it’s that there’s no magic wand you may wave whereas shouting “Abracadabra” to repair the whole lot in a single day. KTM appears to know that actuality.
It’s going to take time, effort, and a substantial amount of perseverance to see one in all Europe’s most dominant modern-era bikemakers return to the place it as soon as stood.
Supply: Bajaj Mobility
