In the autumn of 1945 the first MV Agusta was presented to the public. It was initially to be called "Vespa 98", but it was found that the name had already been registered. And so it was referred to simply by the number "98", available in "Touring" and "Economical" versions. Deliveries began in 1946, the year MV Agusta officially began competing in endurance races. It didn’t have to wait long for its first victory: in the first season Vincenzo Nencioni won an endurance race in La Spezia, then again in Monza on November 3, when all the steps on the podium were occupied by MV Agusta  drivers (Vincenzo Nencioni, Mario Cornalea and Mario Paleari).
 
It was in the wake of these early successes that the 98 "Sport" was built. It differed from the earlier models with its telescopic fork, a new 5cm shorter frame and a more sporting drive. Changes to the engine increased its power almost to 5 HP: a record at that time for an engine of this displacement.
In 1947 MV Agusta went to the Milan Trade Fair with a number of new features.  In addition to a "Luxury" version of the 98, the two-cylinder, two-stroke 125cc bikes and the 250cc single-cylinder 4T bikes appeared.
The following year the 125cc category was introduced in the Italian speed championships, allowing MV Agusta to enter its "125 three gear" model. In 1949 the "98" and the "125" were replaced by the new "125 TEL", flanked by the 125 type "B" scooter in the same year.