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Italian auto major Piaggio expects a recovery in demand from the second half of the current year following the formation of a stable government at the Centre.
The auto maker also plans to renew its scooter products with new contents in the next 2-3 years, besides launching an India-specific scooter next year, Piaggio Vehicles India managing director and chief executive officer Diego Graffi said.
Piaggio Vehicles India is a wholly-owned subsidiary of Italy's Piaggio Group. Besides selling iconic Vespa and Aprilia brands of scooters,it is a leading player in the diesel three-wheeler segment as well in the domestic market.
The 3 and 4-wheeled light transportation vehicles are marketed under the Ape, Porter and Quargo brands.
It has a manufacturing plant at Baramati in Maharashtra, where it produces the two scooter brands.