Naza to distribute Piaggio, Aprilla, Gilera and Vespa bikes

Dato’ Hj SM Faisal, the Joint Group Executive Chairman of Naza and Mark Franklin, the Managing Director of Piaggio Asia Pacific signed the agreement with Datuk Mukhriz Mahathir, the deputy minister of International Trade and Industry witnessing together with Fabrizio Vergamini, the Commercial Affairs Attache of the Italian Embassy. According to the agreement, Naza will be investing RM6 million to provide a showroom as well as service centres which will be marketed under the Naza World of Bikes stable. It will also allow Naza to further bring in Moto Guzzi, Derbi and Scrabero, 3 other brands under the Piaggio Group in the future. According to Faisal, the market for big bikes is expecting some significant growth after a drop in 2009 where “The total industry volume in 2009 dropped around 17% as compared to 2008. However the lifestyle segment increased approximately by 40%, from 1,800 units to 2,500 units in 2009. The segment is expected to further increase in 2010 to 3,000 units,”