The company is looking at starting a new manufacturing plant with a capacity of 1.5 lakh units per year, and wants to earn 70Million Euros in revenues with sales of 1.1lakh units. Apart from the new units, Piaggio’s Baramati (Maharashtra) engine plant has the capability to manufacture Vespas. The plant is currently producing 125 and 150cc engines, and will shortly start producing 1.0 and 1.2-litre diesel engines for Piaggio’s three wheelers.
Expect Piaggio to open new showrooms for the Vespa brand. The company will expectedly market the new scooters in the lifestyle segment, what with their Italian pedigree and retro styling. The company also plans to start boutique showrooms for the new scooters.
Piaggio is growing strong in India with its three-wheeler LCVs. From 35,000 vehicles sold in 2003 to more than 182,000 in 2009 the company has established itself as the leader in three-wheeler LCV segment.