How would you summarise Piaggio Vehicle Private Limited’s (PVPL) India journey in the three-wheeler cargo and passenger space for the past few years versus the last 15 months?
As you are aware, PVPL commenced operations in India in 1999 with the launch of its three-wheeler brand Apé, which was an immediate success and has grown from strength to strength over the years. Our products are not only endorsed by approximately 3 million satisfied customers across India but also exported to more than 40 countries. The company has gone through major changes over the years in terms of both products as well as business expansion.
The growth momentum continued in the years that followed with of course the last 15 months of the pandemic being a bit exceptional. The year 2018-19 has been a record year for us as the three-wheeler industry was at the peak. Our sales figure for commercial vehicles (CVs) stood at 1,64,334 in 2019. We were aiming that 2020 would be another record year for us, notwithstanding the impact of the BS-VI norms. Definitely, the pandemic came suddenly and changed the business parameters in the industry. Despite this, we have seen a strong push for three-wheeler cargo for goods transportation during the unlocking phase.
This story is from the June 2021 edition of MOTORINDIA.
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This story is from the June 2021 edition of MOTORINDIA.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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