Piaggio today announced that the prices for their premium scooter, the Vespa LX125, were being cut to Rs 59,999 (ex-showroom, New Delhi), a reduction of Rs 6500 from its earlier ex-showroom price of Rs 66,500.
The Vespa LX125 was the most expensive scooter on sale in India when it was launched in April last year. The high ex-showroom price translated to an on-road price in excess of Rs 73,000, and nearly Rs 80,000 in most other cities. The Vespa was a highly desirable scooter for many Indians, considering the nostalgia involved, but the price made it prohibitively expensive for many.
Regardless, 25000 LX125s found their way into Indian homes last year, and Piaggio seems keen to improve that stat in 2013. Although the LX125 still remains the most expensive scooter on sale in India, the price gap between other scooters in its class have been reduced. The price cut would definitely encourage more customers, including the ones who were keen to buy a Vespa, but were put away by its exorbitant price.