Like the visiting Italian cousin no-one can quite work out what to do with, MV Agusta is going through the motions of bringing out new motorcycles and increasing sales, even with an uncertain future.

The ‘other’ Italian motorcycle manufacturer started this unknown road to its future in August 2008 when American icon Harley-Davidson acquired the privately held company. Between Harley-Davidson’s interest in performance motorcycles with Buell as well as international growth, the acquisition was seen as a bold move.

“Our objective in acquiring MV Agusta …..was primarily to expand our presence in Europe, and was a recognition of MV Agusta’s proud legacy. While growth in Europe and other global markets remains highly important to us, we believe that focusing our efforts on the Harley-Davidson brand is the optimal path to sustainable growth,” said Matt Levatich, President and Chief Operating Officer of Harley-Davidson Motor Company said at a press conference in October of 2009.

Key achievements of the acquisition included the reinstating of production at the Company’s Varese factory and the re-starting of product development, which would lead to the re-engineered Brutale and enjoyed by dealers and customers alike.

But between a tough economy and new leadership at Harley-Davidson, it was decided to refocus the brand which included shedding the apparently distracting names of Buell and MV Agusta. Even as management went through the motions of efficiency studies in the Harley-Davidson production network and sold of Buell seemingly a piece at a time, MV Agusta proudly introduced the all-new F4 as well as a new Brutale 990R and 1090RR for 2010. Conceived at MV Agusta's CRC design center, the highly anticipated launch of the brand new Brutale models signified a new renaissance for the distinguished Italian brand.

And it seems motorcycle enthusiasts took note. In the first three months of the year MV Agusta sales have increased by more than 50% compared to the same period of last year.

Could the new models and public interest be enough to attract buyers to the MV Agusta brand?

If the rumor mill is anything to go by, the answer is a firm yes.

Keeping it in the family, Paul Berlusconi, brother of Italian Prime Minister Silvio Berlusconi has reportedly shown some interest. With Belusconi owning a significant amount of scooter manufacturer Garelli, the MV Agusta brand would be a good fit, especially as its been rumored he would like to merge operations to a shared Italian plant.

Speaking of Italian interest, Mario Moretti of Italian shoe manufacturer Geox is also rumored to be interested in bringing MV Agusta officially back to the country’s shores bringing the possibility of starting a bidding war.

Two more removed rumors involve BMW showing interest in MV Agusta as well as the recent buy-out fever in March between private equity firm Kohlberg Kravis Roberts and Company and Harley-Davidson may have actually been aimed at the Italian motorcycle brand.

All of the rumors and recent success around MV Agusta leave motorcycle enthusiasts and financial analysts looking to Harley-Davidson disclosing its first quarter financial results next week for some indication of the next step with the Italian brand.

Or maybe even an announcement of the Milwaukee motorcycle manufacturers firm plans for MV Agusta as it did with Buell late last year.