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CHAPTER ONE: A COLLAPSING BALANCE SHEET In 2024, KTM ' s momentum skidded off track. Pierer Mobility’ s financial statements revealed a shocking € 1.28 billion loss before tax, a staggering drop from € 2.66 billion in revenue reported in the previous year. The culprits? Overproduction, weak demand in key markets, and soaring operational costs.
“ We overestimated the market,” admitted Stefan Pierer, CEO of Pierer Mobility, during a recent press conference in Mattighofen.“ We built bikes the world wasn’ t ready to buy.”
The data supports his candor. Motorcycle sales dropped by 21 % year-over-year, and excess inventory led to warehousing and logistical nightmares across Europe and Asia. Compounding this was a € 1.64 billion debt burden, a mountain KTM could no longer climb without external help.
CHAPTER TWO: THE BAJAJ BAILOUT
With insolvency looming, KTM turned to a longstanding ally: Indian giant Bajaj Auto, which already owned a 49.9 % stake in Pierer Mobility. In May 2025, Bajaj led a € 600 million emergency financing round, providing a critical lifeline.
“ KTM is an integral part of our global two-wheeler strategy,” said Rajiv Bajaj, Managing Director of Bajaj Auto.“ We believe in their product and racing heritage. This is not a rescue, it ' s a reinvestment.”
The infusion came with strings attached. KTM agreed to a court-supervised restructuring plan in Austria that
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