Written by: ENS Economic Bureau
2 min readMumbaiApr 27, 2012 12:29 AM IST
First published on: Apr 27, 2012 at 12:29 AM IST
Italian scooter brand Vespa has made a comeback after over a decade in the Indian market with the Piaggio Group on Thursday launching a premium model priced at Rs 66,661 ex-showroom in Maharashtra.
Piaggio is also planning to bring to India more premium brands,both in scooter as well as motorcycle segments.
The Vespa brand was first sold in India in the 60s till 80s through a collaboration with Bajaj Auto. Later on Piaggio had a partnership with LML that ended in 1999.
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, Piaggio Vehicles India CMD Ravi Chopra said.
The company today launched the Vespa LX125. The engine has been developed keeping in mind the Indian conditions but will also be used in global products of Piaggio in Europe and Asia,Chopra added.
Asked if the company also planned to enter the economy segment,he said: It may not be of interest to us to enter a market which is cut throat.
Chopra,however,did not share details and timeline for launching other models saying the company is evaluating the market now.
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