Piaggio to launch Vespa versions, expand biz

Written by R Ravichandran | Chennai | Updated: Jan 8 2013, 06:57am hrs
Piaggio Vehicles (PVPL), a 100% subsidiary of Piaggio & C SpA of Italy, has set a target to sell nearly 100,000 units of Vespa by December due to the impressive response to the premium scooter. This could be achieved through newer versions and expanded market presence during the year, said Ravi Chopra, chairman and MD, PVPL.

The company is contemplating a disk brake version and also a more sporty version of the Vespa during the year, he said. The current capacity is 150,000 and the ramping up will be done progressively to achieve peak level by October 2013, Chopra added.

We have already invested 30 million euros in the facility. Nominal investments would be further made for the R&D efforts to create the new variants, he said, adding, The Vespa sales target for 2013 is pegged at 90,000 to 95,000 units.

He said Piaggio would be sharing the benefits with consumers from January. This would lower the buying cost with the ex-showroom purchase price point now starting at R59,990. In a conscious move to engage and elevate the customers to its brand worth, Vespa will now be available at this compelling value, he said.

To a specific question on the reduced New Year offer price, Chopra said, The company has not reduced the price but optimised it based on the cost efficiencies it has achieved. The cost benefit would be between R7,000 and R8,000 depending on the taxes in different parts of the country.

According to him, within eight months of its launch in India, Vespa has garnered a warm response across the country with more than 120,000 enquiries and sales of 25,000 vehicles till date.