(Apr. 26) – After a 13 years hiatus, the iconic Vespa re-entered the Indian market, as parent Piaggio unveiled at the Auto Expo 2012. The Vespa scooters, in production from March, will be available in the market from today. This will be the first such venture of Piaggio in India without a local partner. More than four decades ago, Piaggio licensed the production of Vespa scooters to Bajaj Auto Ltd. The joint venture ended in 1971, and the company partnered with LML Motors in 1983 to make and sell scooters in India. It exited the venture in 1999, when LML acquired Piaggio’s stake. “Our foray into the Indian market activates a whole new segment of style and fashion conscious consumers who are looking for a premium, exclusive, lifestyle offering reflecting their personalities and attitudes. We would like to leverage this sizeable untapped market segment that shows tremendous potential for growth in the coming years,” said Ravi Chopra, chairman and managing director of Piaggio Vehicles India. (Peg)
