Attempting to internationalize its automotive brand aggressively outside the crisis ridden Eurozone, leading French carmaker PSA Peugeot Citroen said that it will introduce its products in the New Delhi Auto Expo in January 2012 and roll out new cars from the upcoming Sanand plant in 2014.
Mr Jean-Raphael Peytregnet the Consul-General of France in India said Peugeot’s is a symbolic re entry of French companies into this country. Peugeot had exited from India in the 1990s, annulling its joint venture with Premier Automobiles Ltd and stopping operations in this country.
Promising a competitive price band, it will produce premium segment vehicles for the upper middle class Indians. It will not make any commercial vehicles and concentrate only on personal ones.
At present, Peugeot’s car market share in India is zero, the company officials said that the company will elaborate its strategy in the Delhi Expo. But it will focus on C and B+ market segments to meet the aspirations of the rapidly growing Indian middle class which has contributed to and benefited from India’s exceptional economic growth. It will start with the production of C segment cars, like C-508, followed by four other models for Indian conditions.
Admitting that “46% of Peugeot’s global sales came from outside Europe in 2010 and first half of 2011”, the company said it had zeroed in on four main areas of development India, Latin America, Russia and China where it invested EUR 2.7 billion in recent years.
Sourced from BS