Piaggio & C : Group strengthens position in South America with the Vespa and brands

Agreements signed in Argentina, Brazil and Uruguay

Milan, 07 July 2016 - The Piaggio Group said that in the last few days it had signedimportant marketing agreements for the Vespa and Piaggio brands on the South American market.

Already present in some South American regions, the scooters are now to be soldin Brazil, Argentina and Uruguay. Over the next few months, an additional marketing program is planned for Mexico, Ecuador and Colombia.

'Having implemented expansion in Asia, we are now targeting a return as key players in South America,' said Piaggio Group Chairman and CEO Roberto Colaninno. 'Through these important marketing agreements we are opening up to a flourishing and constantly growing market, which we have yet to explore in depth. The local markets were the first to ask us to bring the Vespa back to their regions and we believe this move for expansion and growth will also be a step towards creating new opportunities for our other brands.'

By the end of 2016, the Group plans to open four Motoplex concept stores in Brazil, specifically in the southern district of São Paulo (SP), in Rio de Janeiro (RJ), in Curitiba (PR) in the Metropolitan Region of Belo Horizonte (MG).

In Brazil, the scooter segment is enjoying a period of particularly strong growth, with sales rising by 60% between 2009 and 2015 to 300,000 vehicles, accounting for 18% of total motorized two-wheeler sales.

www.piaggiogroup.com