Italy's leading motorbike producer Piaggio on Thursday unveiled its 'revolutionary' new three-wheel scooter, designed for those concerned with the risk of falling over on traditional two-wheel bikes.
"This is a totally new product which we hope will capture the fancy of consumers," Piaggio Chairman Roberto Colaninno said at the presentation ceremony. Named the MP3, Colaninno explained that "this bike is very important for us and comes out at a strategic moment for the company".
Piaggio is currently going through the steps to be listed on the stock exchange.
The MP3, which has two front wheels and one in the back, will hit showrooms in Italy next month in the 250cc version with a sticker price of around 5,000 euros. The scooter will initially be marketed abroad in its 125cc version.
Piaggio, which introduced the legendary Vespa 60 years ago, is Europe's biggest moped and scooter maker as well as the world's fourth-largest motorbike producer. After getting back into the black in 2004, the year it bought out rival Aprilia, the company has embarked on a major overhaul of its marques and models with a keen eye on appealing to the environment.
Starting next month, all of its motorbikes and scooters will meet Euro 3 emissions standards, six months ahead of the deadline set by the European Union.
Piaggio closed the first quarter of 2006 with a 19.8% hike in turnover, to 374.2 million euros, which allowed profits of 10.2 million euros, compared to losses of 10,.9 million euros for the first quarter of last year. The group was also able to lower its indebtedness from 411.4 million euros at the end of last year to 397.7 million euros by the end of March.
Aside from producing the Vespa, Aprilia models and bikes and scooters under it own name, Piaggio also own the Gilera and Derbi marques as well as the Italian classics Moto Guzzi and Laverda.
