Tuesday, 8 November 2011

Peugeot set to sign up dealers for India return

PSA Peugeot Citroen, Europe's second-biggest carmaker, will start signing up dealers in Indianext year, marking its return to the fast-growing South Asian market after a 14-year absence.

The manufacturer will be setting up a Rs 4,500 Crore facility at Sanand in Gujarat. The first models in Indian market will be Peugeot 508, a sedan for the Indian market.

"India, together with China, will be the fastest growing market over the next ten years, which is why it
is so critically important for us to be present," he said. "The challenge in India is to set up the right
dealer network and establish the brand. We expect the dealership network to cover all of India."

Peugeot, based in Paris, is seeking to reduce its reliance on Europe, where the debt crisis threatens
to drag the region into recession. It temporarily halted some factories after car prices declined
"dramatically" in September as demand stalls.


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