• The Wall Street Journal, Monday, June 16, 2008 10:17 AM

The Segway, which critics panned as a toy for geeks and the rich after it debuted amid massive hype in 2001, is finally gaining traction as gas prices soar. The $5,000, two-wheeled scooter plugs into a standard electrical outlet and can get 25 miles per charge.

Sales at the scooter's maker, Segway Inc., have risen to an all-time high, says CEO Jim Norrod. Although the closely held company doesn't release detailed numbers, a September 2006 recall showed the company had sold 23,500 vehicles. Norrod says he expects sales this quarter to jump 50% from a year earlier, versus a 25% year-over-year increase in the first quarter.

Some small businesses are turning to Segways as a marketing tool. Mathew Mitnitsky, owner of Nonni's Italian Eatery in Concord, N.H., bought a Segway a few months ago and customized it to carry a pizza and display ads. It is now making deliveries in the downtown area, he says, and "it saves a ton of money."

Read the whole story at The Wall Street Journal »