Revenues are shown net of premiums recognised to customers (dealers).
This item
does not include transport costs, which are recharged to customers (€/000 25,318) and invoiced advertising cost recoveries (€/000 8,244), which are posted under other operating income.
The revenues for disposals of Group core business assets essentially refer to the marketing of vehicles and spare parts on European and non-European markets.

Revenues by business segment

The breakdown of revenues by business segment is shown in the following table:

2011 2010 Changes
  Amount % Amount % Amount %
In thousands of Euro
Two-wheeler 1,025,332 67.61 988,104 66.52 37,228 3.77
Commercial Vehicles 491,131 32.39 497,247 33.48 (6,116) -1.23
Total 1,516,463 100.00 1,485,351 100.00 31,112 2.09

Revenues by geographic segment

The breakdown of revenues by geographic segment is shown in the following table:

2011 2010 Changes
  Amount % Amount % Amount %
In thousands of Euro
EMEA and Americas 933,897 61.58 963,224 64.85 (29,327) -3.04
India 395,047 26.05 388,882 26.18 6,165 1.59
Asia SEA 187,519 12.37 133,245 8.97 54,274 40.73
Total 1,516,463 100.00 1,485,351 100.00 31,112 2.09

In 2011 net sales revenues increased slightly compared to figures for the previous year. The increases recorded on the Asian and Indian markets offset the downturns on the European and American markets.