Piaggio India enters scooter leasing business

Mumbai (IANS) Piaggio India has entered into the scooter leasing business by partnering with OTO Capital.

The partnership brings vehicle leasing option for ‘Vespa’ and ‘Aprilia’ range of scooters in Pune and Bengaluru.

“The merit of this new ownership model lies in the fact that one would have to pay only for the number of years they want to keep the vehicle and then return it anytime, thereby paying less and gaining more on their favourite Vespa and Aprilia models,” the company said.

“Further, through the leasing option, one can even upgrade to a more premium model of Vespa and Aprilia in the same EMI budget.”

In the same line, the statement said that employees of corporates who have tied up with OTO Capital can lease Vespa and Aprilia scooters and secure flexible ownership plans, that also provides them with additional tax savings.

As per the company, lessees will have the option to upgrade or own the scooter at the end of the tenure.

Vespa was launched in India in April 2012.

At present, the company has a plant in Maharashtra’s Baramati, where it manufactures the Vespa alongside Aprilia SR 160 and also manufactures a range of three- and four-wheeled commercial vehicles at a separate manufacturing facility in Baramati.

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