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Piaggio first came back into the market in 2001 with the ET2 (two stroke 50 cc) and ET4 (four stroke 150 cc). In 2004, the PX (model year 2005) was re-introduced to North America to meet market demand for the classic Vespa design. Growth in the US market and worldwide environmental concerns meant a need for larger and cleaner engines, so Vespa developed the LEADER (Low Emissions ADvanced Engine Range) series of four-stroke engines. The larger Granturismo frame, with larger 12-inch (300 mm) wheels, was introduced to handle the additional power. The bike in 2006 spawned the iconic GTS-250ie version, with an upgraded suspension and the new QUASAR (QUArter-liter Smooth Augmented Range) 250 cc fuel-injected engine, capable of 80+ mph. As of the end of 2010 the GTS 250 has been replaced by the GTS 300 which has a 278cc fuel - injected engine. In 2005, the ET was withdrawn from Europe and North America and replaced by a new small-frame scooter, the LX range. These were available in the US in 50 cc and 150 cc versions, while Europeans could choose a 50 cc, 125 cc and 150 cc.

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