Victorious Vespa Values
The Italian marque and design icon heads the field in the re-sale market
Iwas recently surfing the web and stumbled on the New York Times site (as you do!). I was pleasantly surprised to come across the fact that there is a global set of surveys, of all things automotive, carried out by the research organisation JD Power. In the ‘All Vehicles Re-sale Values’ section, the thing that surprised me most was that the number one ranked manufacturer for re-sale values was Vespa. Yes, our beloved Italian marque is ranked top for holding values.
The more I thought about it, the less surprising it became, because what Vespa have done with their ranges is actually very clever. I’ve written about it before, but Vespa have managed to keep a certain coolness to their designs, whilst evolving and moving with the times. This has allowed their machines to develop and utilise modern technology and engines, whilst still applying a soft focus and family resemblance to 1950’s models.
The design cues are most definitely still there. The Vespa style is classic and still fits perfectly into a city landscape anywhere in Europe, or the world for that matter. In the scooter scene, however, it has been suggested that the Lambretta may edge things (arguably) for customisation and perhaps outright style, but in the broader sense you have to admit that the Vespa marque has stayed true to its values, retaining a reliability and style that means it keeps its value pretty well.
Last year, I found myself increasingly drawn to a GTS300, with the idea of a bulletproof scooter which could, if needed, be kept outside, had a decent turn of speed, comfort and reliability. Searching around, however, I struggled to find the bargain I had expected. There were just no cheap examples around.
Conducted over three years, the JD Power Survey found that the GTS and Sprint models held their values at well over 70%, which is way better than car marques such as Porsche, which was significantly lower. Vespa needs to be congratulated on their achievements over the last 70-plus years at every level. Staying in business and remaining relevant have not been something that many manufacturers have actually managed over this period.
From a design perspective, Vespa have kept to a family style; one which has retained its iconic silhouette throughout its life. The design community must use the Vespa more than pretty much any other o vehicle in fashion and l ifestyle imagery. They may not use u scruffy scooterist images, but b they certainly use stylised city c types riding Vespas a lot, in everything e from fashion to ice-cream i advertising.
From a manufacturing point of o view, they have introduced plastics widely, but done it in a way w that the plastics are not always a immediately obvious, but have certainly helped to keep their production costs low. More importantly, they have extended the life of their machines, which, of course, is always going to help with re-sale values.
From a marketing perspective, Verspa are clearly a tour de force. The retention of logo styles, imagery and identity means their machines actually appeal to a wide range of people. We see scooterists on matt black GTS models covering long distances on super-reliable rally machines. We see businessmen riding them as cheap and effective commuters, adding handwarmer muffs and weatherproof leg covers, that allow them to step off after their commute and set into their offices, clean and tidy.
We see couriers zipping through traffic on their Vespa workhorses that require little in the way of maintenance and upkeep. We see hip city kids sitting outside coffee shops and espresso bars, just like they have done for decades. We see female students on pastel machines using Vespas to travelt to university with rucksacks on their backs.
So yes, of all the scooter manufacturers over the years, Vespa have certainly done the best job overall and, in fact, it's clear that the marque and range is unique. They have quietly got on with their business in a very Italian, stylish and businesslike manner.
Not only have Vespa stood the test of time, but they are also a truly international icon. Sales are growing across Europe and will likely continue to do so, even as economies are under pressure and environmental concerns become a more pressing issue. Well done Vespa (owners). Long may it continue.