Piaggio drops prices of the Vespa
Increased localisation helps Piaggio announce a fall in prices for its popular lifestyle offering
The Vespa LX125 has been a hit with the Indian market since the day of its launch, the price not really being a hindrance. Piaggio has sold 25,000 examples till date, and sales show no signs of slowing down. However, to make its product even more accessible to potential buyers, Piaggio has dropped prices of the LX125.
Attributing the fall in prices to increased sourcing of local components and a surge in production owing to high demand, Piaggio will now sell the LX125 to you at a very reasonable price of Rs 71,025 (on-road, Mumbai), a reduction of about Rs 7,000. Adopting a similarly aggressive pricing strategy for the rest of its range, Vespa will also introduce new products this year.
Speaking on this development, Mr. Ravi Chopra, Chairman and Managing Director, PVPL said, "We are extremely delighted that Vespa has been able to create a new premium category within a short span of eight months while striking a strong chord with the Indian consumer. As we move into 2013, we are looking to increase this base and consolidate our national presence. From a business point of view, we've been able to build a strong network of dealers and partners much faster than we thought, thereby enhancing the reach and penetration. Our aim is to constantly enhance the brand value and experience for our customers and we will keep striving towards the same."
Would you stretch your budget to acquire the chic Italian, or is it still too much of a premium to pay, dotcommers?