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Vespa has a long range of two wheeler. A subsidiary of Piaggio Auto from Italy , Vespa is a premium
segment scooter manufacturer in India. It has a long range of scooters which basically targets the
premium segment of the population. Recent models of Vespa are:

LX 50, LX 125, LX 150LXV 50 (60th anniversary variant of LX50)
LXV 125 (60th anniversary variant of LX125)
GT 60 250 cc Limited Edition. 999 produced worldwide in unique colours and each one receiving a
commemorative badge, personalized with the owners initials. Features the front-fender-mounted
headlight, shared only with the GTV 250.

GTS 125, GTS 250ie, GTS 250 ie abs, GTS300, GTS 300(SUPER)
GTV 125 (60th anniversary variant of GTS 125)
GT60 (60th anniversary limited run variant of GTS 250) Features the fender mounted headlight as a
tribute to the original Vespas.

GTV 250 Standard model based on the GTS250ie. Physically similar to the GT60, but available in a choice
of colours.

PX 30 125 (A limited edition, only 1000 produced to celebrate the 30 years of the P range

New PX 2011 150 (and later also 125); not just a limited edition: in 2011 the PX series restarted to be
produced in Italy after a 3 years absence because of the EU restriction about Euro III engines emissions
not followed. In occasion of the 150th anniversary of Italian union, Piaggio has proposed this special
version, with a re-designed saddle but with the same "Vespa experience".

S 50 and S 125 new model 2007, introduced at Milan Motorshow November 2006

S 150 (2008)

Zafferano 50 cc and 125 cc (A limited edition, only 200 produced)

Piaggio first licensed the production of Vespa scooters in India to Bajaj Auto in the 1960s. In 1971,
Piaggio's license was not renewed as a part of Indira Gandhi's privatization programs. After the
collaboration ended, Bajaj continued to produce scooters based on the Vespa design, namely
the Chetak.
Another Vespa partner in India was that of LML Motors. Beginning as a joint-venture with Piaggio in 1983,
LML, in addition to being a large parts supplier for Piaggio, produced the P-Series scooters for the Indian
market. In 1999, after protracted dispute with Piaggio, LML bought back Piaggio's stake in the company
and the partnership ceased. LML continues to produce (and also exports) the P-Series variant known as
the Stella in the U.S. market and by other names in different markets.
In the 2012 Auto Expo held in New Delhi, the iconic Vespa re-entered the Indian Market. Piaggio unveiled
its range of scooters at the Expo. This became the first such venture of Piaggio in India without a
local partner.
Growth in emerging countries
The world economy today is growing at two speeds. Industrialized countries (Europe and the United States)
are experiencing a period of economic stagnation, while the emerging world, as represented by Asia (in
particular China, India and the ASEAN countries) and Brazil, are spearheading world growth. The fast
-paced growth enjoyed by these countries in recent years is expected to continue into the future, so
much so that the International Monetary Fund has forecast that in just a few years time, Chinas real
GDP will match that of the United States and Europe.
Such economic development has brought about general progress for the countries themselves, in the
form of better infrastructure, higher consumption and growing urbanization.
Especially in Asia, a new middle class is developing with increasingly more purchasing power. Year after
year, its share of world consumption is growing, and will continue to do so.
It is reasonable to assume that emerging countries will continue to drive world growth in the future, and
as such they represent fundamental markets for global companies such as the Piaggio Group.
Urbanization and sustainable mobility
With regard to the transport sector, urbanization is on the rise in a significant way in emerging countries,
but also in the industrialized world, bringing with it an increase in the amount of traffic, and its
concentration. This, in turn, is raising the need for safer forms of transport that are environmentally friendly,
in terms of lower emissions and lower fuel consumption.


Western Markets shrinking, with Europe ~55% below 2007 and North America taking a downward turn in
Asia Pacific faltering, in particular Vietnam and Thailand
Indian 2 Wheels slightly growing, sustained by Scooters up double digits
Indian 3 Wheels shifting to negative, with downward trend accelerating in Q3; sub 1 ton 4 Wheels shrinking
by ~20%
In the 1950s, there was very limited production of scooters in India. Scooters were being manufactured
only by Automobile Products of India (Lambretta) and BTC (Vespa). In those days, there was a huge
demand for scooters in India and a shortage of supply. In 1972, Kinetic Engineering Ltd entered the
Indian scooter market. In the 1980s, Bajaj scooters had more than a 60 % market share in the scooter

In March 2012, Piaggio launched the Vespa scooter at a price of Rs 66,661 positioned at the premium end
of the Indian scooter market. It invested over $30 million in setting up a manufacturing plant at Baramati
to produce 150,000 units per year. Piaggio focused on the Vespa's heritage and unique values and on
sustaining the brand image of the Vespa through its communication strategy.
In India, there was a clear differentiation made between the premium and economy segments in both
the car and motorcycle markets. Experts said brands such as Harley Davidson and Triumph were
considered as premium motorcycles and these in general had much larger engines and were superior in
performance. In India, motorcycles like the Rajdoot and the Royal Enfield had garnered a premium
image with the associated retro feel. Vespa aimed at achieving something similar with a retro feel and an
Italian scooter image...

Two Wheeler vehicles
Asia Pacific - major development: the aim is to continue the constant growth in the area through the
entrance in new markets and in new segments with a premium positioning, investing on product range
extension (both vehicles and engines) and on the expansion of the production site in Vietnam
(from current 140,000 units/year to 300,000 units/year)
India major development: in April 2012 Piaggio Group entered the Indian scooter market with locally
produced Vespa been ready to double the new Baramati production site capacity from current
150,000 units/year to 300,000 units/year
Western Countries consolidation of leadership position: the objective is to further increase European
market share in scooters and to grow in sales and margins for motorcycles, thanks to Aprilia and Moto
Guzzi, which will experience a deep product range renewal starting from 2012.

Western Countries: impacted by the effects of the longest and deepest ever market contraction
European Scooter market share in line with prior year, confirming Piaggio undisputed leadership
Positive price effect sustained by continuing shift towards high-end segments; Vespa and Guzzi
outstripping market trend
North America robust sales momentum continues, despite unsupportive market demand
% Gross Margin increase, against double digit volume decline, proving operating cost flexibility
Asia Pacific: slow down in a subdued and highly competitive market
Vietnam negative performance linked to dealer stock reduction and stronger competition; new
Vespa Primavera should revert the trend
Indonesia back on a growing path; ongoing positive performance in Thailand, Taiwan and
Average regional prices holding up well and % Gross Margin at record levels, despite increased
competitive intensity
India: volume increase partially offset by forex negative effect
Export growth accelerated throughout the year; the opportunity to play a stronger role clearly
Positive price effect excluding negative forex stemming from rigorous pricing discipline
Vespa run rate falls short of our expectations; we are stepping up efforts to increase sales

European sales dragged down by Mediterranean countries with Italy and France worst performers.
Northern Europe still negative YTD, but showing improving trend with Germany and Benelux ending
up with a positive Q3. North America revenues holding up well
Asia Pacific with strong growth in Indonesia, Thailand and Taiwan unable to counterbalance
Vietnam subdued performance and FX negative effect