Piaggio Vehicles, the Pune-based scooter and light commercial vehicle manufacturer, is entering the city three wheeler market with its new product Ape City, to challenge market leader Bajaj Auto.
The subsidiary of Italian Piaggio & C s.p.a has launched the new class of city-centric passenger three wheelers under the Ape City brand. The company is aiming to upset Bajaj Auto’s dominance in the three wheeler segment.
The city three-wheeler market, whose sales are dictated by state governments based on the number of permits issued for most centers, is about 150,000 units per year.
Piaggio is aiming to have 15-20% market share in this segment by end of this calendar year. The Ape City costs Rs 1.10 lakh for petrol, Rs 1.23 lakh for LPG and Rs 1.25 lakh for CNG (ex-Maharashtra).
Piaggio presently has a market share of 31% in the passenger three wheeler space while Bajaj Auto leads with a share of 50%.
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