Piaggio targets Asia!

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Italy's Piaggio, best known for its Vespa scooters is expanding in the Asian region. Their sales figures have gone down in Europe where the demand for the scooters have been decreasing lately but Asia is there to the rescue yet again with sales in China and India doing most of the damage. Piaggio has said it wants Asian sales to account for 50 per cent of total sales in 2014, up from a third in 2010, with Europe representing the other half. Net debt is targeted at about €340 million in 2014, slightly lower than at the end of 2011, with an improved net debt/ebitda ratio of 1.1 times, from 1.7 times. The buying power in Asian regions keep going up and people are doing whatever they can to improve their lives, this can be seen in buying more products and spending lavishly too. In many Asian countries like India, China, Taiwan, people do still use scooters a lot more than cars because it can be a good way to evade the traffic and also its a custom there. That is Asia for you in a nutshell, even with all the money they can spend, they still stick to their roots sometime.

Source: http://www.scmp.com

Image: mick/Lumix
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