The Italian company, which is well known for its Vespa scooters all over the world, is now eying the big Asian two wheeler market, to offset weak two-wheeler markets in Europe. Piaggio said it would continue its presence in Asia, with production, models and sales activities, including entry into the Indian scooter market.
Indian two wheeler market, which is now booming as a good place for scooter sales, is expected to suit the Italian company. Piaggio is confident that the high performance, fuel efficient and good looking scooters will surely attract Indian people and people all over Asia.
The reports mentioned that the company stated "The plan foresees a strong growth in productivity in order to generate value for customers, workers and shareholders, working on its increased international presence." Piaggio is expectimg to achieve this target within 2014.
A large number of targets are set by themselves to achieve by 2014. Some of the targets include 2 billion euros in sales, tax and depreciation (EBITDA) margin of 15 percent etc. It was mentioned that Piaggio has said it wants Asian sales to account for 50 percent of total sales in 2014, up from a third in 2010, with Europe representing the other half.
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