Piaggio enters pre-owned vehicle biz

Eyeing a 10 per cent stake in the overall revenues, the three-wheeler manufacturer Piaggio India has entered into used vehicle business for its vehicle Ape’. The company plans to launch 20 outlets under the brand name “Ape’ Life”, the company would establish presence in Maharashtra, Kerala, Andhra Pradesh, Karnataka and Delhi, a press release issued said. The company has sold more than 7 lakh vehicles since its entry in India.

The “Ape’ Life” stores would enable people to buy as well as sell used vehicles under a single roof. The company also plans to expand its network up to 50 outlets by the end of year 2010.