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We have already reported about Peugeot entering the Indian market by 2020, and now more details have been revealed about the company's product portfolio in the country.
The report also states that Peugeot will launch two or three variants of the hatchback. To keep the costs low, the automaker is planning to meet parts suppliers such as Motherson Sumi, Uno Minda, Spark Minda and Rane Group to source components for the hatchback.
Peugeot is considering to sign a contract for around 4 lakh units with the suppliers and will make use of the Chennai plant of Hindustan Motors to manufacture vehicles in India. The company aims to roll out around 1 lakh units from this facility.
The premium hatchback is the second fastest growing segment in India after the SUV segment. More and more buyers are upgrading to a bigger car or planning to go for a premium hatchback instead of entry-level vehicles. Apart from the Swift rival, Peugeot will also introduce three more products in the country.
Currently, Peugeot retails the 208 hatchback in the global market which is a competitor to the Maruti Swift. The 208 made its global debut in 2012, and the car has been caught testing in India in its facelifted avatar. There is also a possibility of Peugeot developing an all-new 208 to suit the Indian conditions.
Premium hatchbacks are becoming extremely popular in the Indian market as more and more buyers are opting for premium cars rather than entry-level hatchbacks. Now, Peugeot will also enter the rapidly growing segment with its 208 hatchback which will rival the likes of Maruti Swift and Hyundai Grand i10.