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Piaggio launches apé mini half tonne mini truck

New product represents a strategic solution in the 'last mile' goods carrier category Pune, October 12, 2010: Piaggio Vehicles Pvt Ltd (PVPL), India's leading manufacturer of light transportation solutions unveiled apé mini, a state-of-the-art half tonne cargo 4-wheeler, at an event here today. The new product has been uniformly priced at Rs. 1,73,600/- lakhs across India (exshowroom price), in line with the distinct requirements of customers in the "last mile" category of the hub&-spoke logistics business. The apé mini is a strategic initiative from Piaggio to further expand its share of the half tonne market where the Company is already an undisputed leader with its apé 3wheeler ­ a vehicle that is today synonymous with the 3-wheeler category. The apé mini is a revolutionary product developed on the basis of Piaggio's on-going customer feedback program, and adds a new dimension to Piaggio's range of transportation solutions. It symbolizes Piaggio's second solution in the half tonne category where the Company is already the dominant player with its apé 3-wheeler. The now legendary apé 3-wheeler, with a current customer base of over a million users, pioneered the half tonne cargo segment in India as early as 1999, and opened up a new source of livelihood for SMEs and entrepreneurs across the country. It continues to be the preferred choice of ''first-time users'' in the transportation business, highly trusted for its economy, load capability and earning potential. Explaining the Company's new initiative, Mr. Ravi Chopra, Chairman & Managing Director of Piaggio India Pvt. Ltd. said " At Piaggio, our emphasis has always been on value creation.

Be it product design or performance. We have consistently gone to the market with our customers in mind. Anticipating the customer's need for a small, classy and comfortable mini truck, we conceived the apé mini to deliver exceptional value and a superior experience to our customers. Today, we are confident the apé mini will outclass others in the half tonne 4-wheeler segment and help consolidate our leadership position in this half tonne band." "Created on the basis of extensive customer need-gap analysis, apé mini is truly a world class product that will complement Piaggio's existing 3-wheeler portfolio. It should emerge as a preferred option for 4-wheeler buyers in this segment on the strength of its operating efficiencies and enhanced earning potential". Best-in-class features and benefits : The apé mini incorporates the exacting high standards that Piaggio is known for internationally. It offers the best mileage in its class ­ of all 29 kms per litre. It has the largest cargo deck in the category, enabling optimum load capability. At 230 mm, the ground clearance of the vehicle is the highest in its class, ensuring safe and smooth driving over speed breakers and the challenging terrain of congested city roads. These features add up to low operating costs that ensure the best earnings for the buyer. The apé mini has a spacious car-like cabin with sleek fittings, ample leg room and adjustable sliding bucket seats for greater driving comfort. A factory fitted co-driver's seat also comes as OE with the vehicle. Piaggio's confidence in the performance of apé mini is evident in the 15-month warranty and 5 free services that the Company offers. Additionally, the product will be backed up by Piaggio's world-class sales and service network of over 760 touch points that consistently provide quality service and spares, 24x7 across India. About Piaggio Vehicle Pvt.Ltd. Piaggio Vehicles Pvt. Ltd. is a 100% subsidiary of Piaggio and C.S.p.A of Italy. The Company commenced operations in India in 1999 and has since established itself as a leading player in the light transportation industry with a range of 3 and 4-wheelers in different fuel variants. The Company's products are endorsed by over one million satisfied customers across India.

Piaggio has a state-of-the-art manufacturing plant at Baramati in Maharashtra, with an installed annual production capacity of over 200,000 three-wheelers and 100,000 four-wheelers. It is also moving towards self reliance with the completion of its advanced engines plant on the same campus. Piaggio has a 2100-strong work-force comprising experienced engineers, R&D specialists, plant workers, sales, service and marketing professionals. Piaggio created, and now leads, in the half tonne segment with its apé 3-wheeler which has become generic of the category. The Company controls 65% of the 3wheeler cargo market and over 33% of the 3-wheeler passenger market. The company is a formidable player in the 3W segment of the auto industry. Piaggio created, and now leads, in the half tonne segment with its apé 3-wheeler which has become generic of the category. The Company controls 65% of the 3wheeler cargo market and over 33% of the 3-wheeler passenger market. The company is a formidable player in the 3W segment of the auto industry.

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