Piaggio expects sales in Asia-Pacific to beat a target of 100,000 units in 2011, two years ahead of schedule, Chairman and Chief Executive Roberto Colaninno said.

Investors have been attracted to the stock after its expansion in countries such as India, Vietnam and Indonesia. Its shares have gained 14 percent this year, while Milan’s blue-chip index has declined 27 percent.

On mature European markets, Piaggio unveiled further details on the relaunch of its classic Moto Guzzi motorbike brand, which one analyst had said was unclear.

“I only want to say we are satisfied with the sales we are doing (in Asia) that offset the fall in sales in Europe,” Colaninno said at a news conference in northern Italy for the 90th anniversary of the Moto Guzzi brand.

“In 2014, we think we will be 50 percent Europe and 50 percent Asia,” he said, declining to give a sales forecast for the year.

Sales of Piaggio scooters in Asia soared to account for more than a third of the group’s revenue last year, from 10 percent in 2003.

In the first eight months of 2011, the company posted a 3.2 percent rise in worldwide sales to about 453,000 vehicles. 

Speaking about Italy, Colaninno said the austerity measures meant to head off a debt crisis engulfing the euro zone’s third-largest economy were welcome if they preserved growth.

At its Moto Guzzi plant beside Lake Como, Piaggio said it was aiming for annual sales of 10,000 of the brand’s bikes. In the first eight months of the year, Moto Guzzi sales were up 31 percent to 4,300.

“This time there will be more substantial investment (on the relaunch), on the commercial network and on new products,” Piaggio Chief Financial Offer Gabriele Galli said.

On Friday, a Milan analyst said it was unclear whether Mandello del Lario was still a production plant or had become a museum, and asked if Piaggio was investing in the brand.

Galli said the group is investing 40 million euros ($55 million) in the brand’s products, including motors, while another 13 million-15 million euros will be spent on revamping the lakeside assembly plant over the next four to five years.

Moto Guzzi, which competes with BMW, Harley Davidson and Triumph, is strongly improving its financial performance and breaking even, he said.