Piaggio all set for a new round in Indian market

Piaggio all set for a new round in Indian market

Piaggio Vehicles, an Italian automaker from the firms that makes Vespa and Piaggio scooters, plans to boost its transporter and freighter portfolio with 21 new models consisting of strict emission standards that India would adopt next year. For Piaggio, India claims for fourth of its global turnover. The fresh portfolio of electric, hybrid, CNG and LPG vehicles will not only help the company fight aggressively in the domestic market but also open new opportunities beyond India.

The company is in first position India’s three-wheeler cargo space. With the brand-new range of vehicles, it is planning to reinforce its ambiance in the people-moving three-wheelers as well. The company will be getting in its electric three-wheeler with a swappable battery solution in the second half of 2019 to take benefit of the federal push towards electric-powered public transport. Piaggio plans to invest about ₹200 crores over the next few years, of which a significant portion would go towards the introduction of a new range. Along with the expansion of the portfolio, Piaggio is penetrating deeper into rural India. Malind Kapur, senior VP, marketing and channel development, Piaggio Vehicles, said the company has the largest network in the SCV industry with 432 dealerships and more than 1,050 touchpoints. This network will be further increased to 500 dealerships and 1,200 touchpoints this year.

At the end of 2017, the Indian operation was accounted for almost 26.5% of Piaggio’s global turnover at €355.9 million and 41% of the company’s global sales 2.3 lakh units. While the turnover of 2018 entire calendar year is yet to be reported, at the end of September 2018, the sales contribution from India went up to 44% at 2.1 lakh units, whereas the tax from India jumped to 28%. Piaggio’s nine-month revenue soared 43.3% to €1.1 billion, largely driven by the Indian operation that increased 46% to €306.3 million.