PSA Peugeot Citroen, the leading French based car maker, that has started the process of setting-up its manufacturing plant in India, has said that it will be rolling-out its first portfolio model in the Indian market by year 2014. The company has already announced to display its portfolio models at the upcoming Delhi International Auto Expo in January 2012.
In a recent statement, Mr Jean-Raphael Peytregnet, the Consul-General of France in India, said that debut of Peugeot is a symbolic re entry of the French companies in the Indian market. He added that the French car maker had exited from India in year 1990 with stopping its operations in India, following the end of tie-up with Premier Automobiles Ltd (PAL).
Though the company will be rolling out its products in various segments, but the major focus will be on C and B+ market segments. While further elaborating firm’s strategy in the Indian market, he said, “the aspirations of the rapidly growing Indian middle class which has contributed to and benefited from India’s exceptional economic growth”.
PSA Peugeot, whose 46 percent of global sales come from outside Europe, had zeroed in on four main areas of development including India, Latin America, Russia and China. The firm has already invested a sum of over 2.7 billion euros in these markets in recent years.
