Vespa Draws on Heritage With 946 Model

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Nov. 20 (Bloomberg) -- Bloomberg’s Ryan Chilcote reports on the introduction of Vespa’s newest luxury model, the Vespa 946. He speaks on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)

Draw on the heritage.

It is modeled after the very first prototype vespa came up with for a scooter in 1946. scooters came out in 1948. that's right.

They are trying to get back to that heritage.

It has a lot of the original lines and features.

As you were pointing out it has the -- original dashboard.

Talk to me about the business -- scooter sales have been suffering.

They needed to re-invent themselves.

This is kind of a nearby thing.

-- niche thing.

They made 3,000 and sold 3,000. they have a production line where they are focusing on this.

They are handmade in italy.

The idea is not to make a lot of money on each one with a big, fat profit margin.

It is a branding exercise.

To sell the other 100,000 mass manufactured vespas that they make.

As you were saying earlier, it is not the easiest market for them right now.

They kind of want to make the brand.

This is kind of a -- practicality.

It looks awesome.

You can see the beautiful lines.

Pretty hard to sit on the back.

You have to have something to put your helmet in.

What they were saying, the company, effectively you would not actually take this scooter to work every day.

You would take it out on the weekend.

It is kind of a way to splash out.

Splashing out, you know, it is almost like with push bikes here in the u.k., you can splash out for just under $10,000. you can spend 10,000 pounds.

It is not like splashing on a maserati or something like that.

You can premiumize.

Take it up market.

Make it look cool and luxurious and improve the margins overall.

Thank you very much indeed.

So from one italian over to another, francine, back to you.

Guy, thank you so much.

This year, wave was sold to google this year.

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