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| The Vespa with the largest engine. This model, with 12.35 bhp at 5,700 rpm, could reach 116 km/h. The 200 Rally is almost identical to the 180 Rally. |
| Year | Prefix | Framenumber | |
| 1972-79 | VSE1T | 1001 - 42275 |
| engine | single cylinder, 2-stroke | |
| cylinder bore | 66.5 mm | |
| piston stroke | 57 mm | |
| cubic capacity | 198 cc | |
| bhp at rpm | 12.35 @ 5700 | |
| lubrication | 2% | |
| carburetor | Dell'Orto SI 24/24 E | |
| gears | 4 | |
| chassis | one-piece metal pressing | |
| tires | 3.50 x 10" | |
| weight | 101 kg | |
| max. speed | 116 km/h |