Vespa, isn't the name familier with Indians. Yes it is, we used to have LML Vespa few years back which has now been turned off..
Piaggio the largest two-wheeler maker in Europe will be re-launching its Vespa Scooters to India. Piaggio is now bringing back the vintage look scooters to India after a gap of 13 years.
"We are doing a comprehensive and exhaustive research in India as to what could be the product line for the next few years," Piaggio Vehicles India MD Ravi Chopra said.
"We will be clear about what should be the road map for Piaggio in India in the next few months," he said.
"We have to get into mass market scooter segment that is the large chunk of the market. If we don't exploit at the right time, then I think we will miss out on the opportunity," said Chopra.
Vespa first entered the Indian market in 1960s with collaboration with Bajaj Auto but it ended in 1971 as India Gandhi's privatization program came into place. It again entered in 1980s when it partnered with LML Motors to produce its famous P series scooters. This partnership ended in 1999 because of disputes between both companies. It has now entered the Indian market independently with its vintage look scooters.
Vespa has launched four versions of its vintage scooters.
1- Piaggio Vespa LX 125
Price- 68,000/- approx (depending on the city)
2- Piaggio Vespa S 150
Price- 78,000/- approx (depending on the city)
3- Piaggio Vespa LX 150
Price- 82,000/- approx (depending on the city)
4- Piaggio Vespa LXV 150
Price- 88,000/- approx (depending on the city)
Do you think Vespa can succeed in India?
Indian scooter market is growing at a very good rate which is 15-20% every year and Piaggio thinks that this is the right time to enter Indian market. Company thinks that the growth in Indian market will cross global sales in coming 2 to 3 years.
2.2 Millions scooters were sold in 2011-12 in India, Honda is the current leader in Indian Scooter Market with 44% market share.
Vespa scooters are priced higher than the scooters are sold in India. Why would someone will pay more 15-25% to buy Vespa?
- Vespa scooters come with vintage look which mixes with advanced technology.
- Vespa is well known company in India so it should not have troubles branding its name.
- Indian Consumers are now open to spend a little extra if it is fashionable.
- It has the great look which can not be compared.
Company has invested 32 million euros (210 crore) in its all new plant in Baramati which has the capacity to make 1,50,000 units annually.