Quadricycle market in India not as big as cracked up to be: Piaggio

Piaggio Vehicles, the wholly-owned subsidiary of Italy's Piaggio Group, the world's biggest manufacturer of quadricycles, says the Indian market does not appear as lucrative as it is made out to be for the four-wheeled people carrier.

The quadricycle, which is pegged as a new mode of transport and an upgraded alternative to passenger three-wheelers, may not dent the latter's demand, said a senior executive with Piaggio on Wednesday.

After several rounds of discussions on the pros and cons about quadricycles between the manufacturers and government-backed agencies, the creation of this new segment has already been cleared by the government.

Last month, the law ministry gave its nod to quadricycles to ply within city limits as a commercial passenger vehicle. The roads ministry is expected to formally notify the same soon.

Ravi Chopra, chairman and managing director of Piaggio Vehicles, said: "Quadricycles may not be as big a segment as it is made out to be. Quadricycles has a long way to go; it is not going to transform India."

Quadricycles are essentially the ubiquitous auto-rickshaws with the addition of the fourth wheel. It is promoted as a safer, more fuel-efficient vehicle with cleaner emission compared to a passenger three-wheeler.

Pune-based two-wheeler major Bajaj Auto is ready with its quadricycle and is hopeful of a commercial launch later this year. The Bajaj RE60 was first showcased in 2012 by the Pulsar-making company, but the vehicle got embroiled in a controversy over its practicality for the Indian roads after some companies including Tata Motors, TVS Motors, among others, expressed displeasure.

Quadricycles are barred from plying on highways with its maximum speed restricted to 70 km an hour. All these vehicles will carry a label 'Q' prominently on the body, which will help authorities from identifying them and restricting them to operate in areas predefined for them.

"We will watch the market, learn from the experiences of other companies who are wanting to launch the quadricycle in India. We are not doing any research on quadricycles. In my view, quadricycle will not whisk away the market from three-wheelers; three-wheelers will continue to be in demand," added Chopra.

Piaggio showcased the NT3, a self-defined light four-wheeler, powered by a sub 350cc engine at the Delhi Auto Expo last month. According to Chopra, the NT3 can be developed as a quadricycle or a car based on requirements.