Piaggio plans to foray into quadricycle segment

Three-wheeler maker Piaggio Vehicles India has plans to enter the quadricycle segment, a senior company official said here today.

"We are looking at it (launching quadricycle)," Hardip Goindi, Executive Vice President Piaggio Vehicles told reporters after rolling out the company's Ape City Compact Diesel variant here.

However, introduction of quadricycle will not affect the three-wheelers as a mode of transport, he said.

"Three-wheelers still have got a huge potential in India. My thinking is that quadricycle will create its own segment, but three-wheelers will remain in the market place. India still has lesser number of three-wheelers than what it should have," he said.

Declining to give any further details on the features, launch or other aspects of the company's proposed quadricycle, Hardip said, "We have to wait and watch how the quadricycle will evolve. I think it will create its own segment and not affect the three-wheelers in the real way because this segment is too big to get affected."

"But definitely, in certain towns, quadricycle will create some opportunity," he added.

According to Hardip, the company controls 60 per cent of the three-wheelers cargo market and over 31 per cent of the three-wheeler passenger market.

He said the company plans to increase its export volume which is at present 2,000 vehicles per month, targeting a higher growth to various countries including Sri Lanka, Nigeria, Ethiopia, Latin American countries, among others.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • RBI and government intervention is vital if all Indians are to have homes by 2022

    There is a strong case for interest subvention for India’s real estate sector.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Public perception on climate change

Climate change is already happening; however, surveys conducted in 2008 ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture