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Peugeot Citroen To Make A Comeback With New Sedan

By By: Vicky.in
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Peugeot
The second coming of Peugeot Citroen into India will be marked with the launch of a new mid-sized new sedan. The company has been in exile for the last ten years and the plans to re-enter into India has been on the cards since 2009. The delay in stepping into the country has been due to the thought of erecting fully localized manufacturing facility. Peugeot Citroen is in search for suitable locations for this purpose and once the process was over, then there will be commercial and industrial operations, said the statement from the company. As there is no time bound launch for this new sedan or its entry, the company has set the target of selling 50% of its manufacturing in the regions outside Europe in another four years. The comparative share in this regard during 2010 was 39%. The Peugeot Citroen"s Executive VP for Asia said India has been a key potential market for it and the entry will add a new dimension to attain the supremacy in global market. The company"s presence in China reveals this and the same strategy will be applied for the Indian customers too, he added.

The present activities of the company is being looked after by the MD in India with its operational Headquarters in Mumbai. For those auto lovers, Peugeot Citroen is not a new player since it had its business with the tie-up from Premier group in India till 2001. Now the company is getting geared to enter the country after its earlier feasibility study for the Indian passenger car market. As per the study, the market is to reach the 2 million mark in this FY. In the meantime, the company was in negotiations with the governments of Tamilnadu and Andhra Pradesh for getting proper sites for the facilities. In another move, the company got relevant information from Automotive Research Association of India for regulations and homologation norms. The products earmarked under this process are 307 hatchback and C5 new sedan. The MD said the delay was effected more by the global recession in recent years and the Peugeot Citroen will make its formal entry at appropriate time.

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Article Published On: Thursday, February 10, 2011, 15:32 [IST]
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