Piaggio Vespa LX125's Price Down to Rs. 59,960

Italian bike maker Piaggio Vehicles Private Limited, which enters into Indian two-wheeler segment with their iconic Vespa scooter, has now cut the price for its classic Piaggio LX 125 scooter to Rs 59,960 (ex-showroom). The price has been reduced in a bid to increase Vespa's mass appeal and to take on market leader Honda Two-wheelers. Earlier they reduced prices on Diwali by 6,000 to 9,000 and after that, the scooter was available for Rs 66,600 (Ex-showroom).

Piaggio has taken this step due to India's increasing scooter market, which is growing at a healthy 20.06% in a relatively flat automotive market. India's scooter and scooterettee sales stood at 1.94 million vehicles from April to November, according to industry lobby Society of Indian Automobile Manufacturers. Honda Scooters is the leader in the India’s scooter segment, which has more than 50% of the market share. Piaggio said it has sold over 25,000 units of its classic scooter since the April 2012 launch in India and is sharing the cost efficiencies through volumes that achieved to customers.

"In keeping with the philosophy of maximising customer value, Piaggio would be sharing the consequent benefits with potential consumers beginning January 2013. This would lower the acquisition cost of the Vespa with the ex- showroom purchase price point now starting at Rs. 59,990 and taking the iconic brand to a wider set of aspiring consumers," Piaggio said in a statement.

"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," said Ravi Chopra, Chairman and Managing Director, PVPL.

Piaggio's Vespa classic LX 125 competes with the likes of Honda Activa and Duo, Hero Motorcorp Maestro, TVS Wego, Yamaha Ray, Suzuki Access 125, Mahindra Duro Dz 125 and Rodeo 125 and Suzuki Swish 125. The Piaggio Vespa is still priced the highest even after a hefty price cut among the competing products.