Piaggio Vespa LX125 Rides into India
World renowned Italian two-wheeler manufacturer Piaggio unveiled its brand new Vespa scooter – LX-125 in India, priced at Rs 66,000 (ex-showroom Mumbai). The launch is a second innings for Vespa which was first sold in India in the 1960s till the 80s through the collaboration with Bajaj Auto.
Commenting on the launch, Mr Ravi Chopra, Vehicles Chairman and Managing Director at Piaggio said, “Right now there is no premium segment in the Indian scooter market but we believe there is a significant number of brand conscious young people who would like to make a statement. Vespa is creating a premium segment by targeting those customers.” He added, “Baramati plant for Vespa has initial capacity at 150,000 units per annum.”
The company is targeting annual sales of 3 lakh Vespa scooters by 2013 across a network of 50 showrooms in 35 cities across India. Additionally, the company has invested €50 million (approximately Rs 350 crore) to set up a plant in Baramati, Maharashtra. According to Chopra, the plant will have a monthly capacity of 12,000 units by September. The capacity will however be scaled up to 15,000 and 20,000 in a phased manner.
Piaggio Vespa is the scooter with the most expensive price tag. The retro design with unique colors and lots of chrome are bound to appeal to the masses. Will this be a success story- only time can tell.
By: Amrith K. A.
Source: Auto News India
