The global CEO of PSA Group, Carlos Tavares, during the 2016 Paris Motor Show, revealed the company’s plan of entering India’s car Market by 2016 with an official partnership while it will start manufacturing cars in India by 2021.
PSA Group is a French automotive group which owns Peugeot, Citroën and DS Automobiles. Carlos also admitted that the company sees a lot of potential in India and is hoping to soon finalize an entry strategy. Even though the company exited the Indian car market, a few years ago; observing the current situation and the potential in the Indian market, the company has finally made up its mind to make a comeback.
At the Paris automobile show, he said, "India has a great potential and it is part of my "Push to pass" plan. Don’t be too impatient. I would be glad to meet you as soon as we have finalised the strategy." The introduction of Daihatsu and Kia Motors along with PSA Group’s re-entry is expected to lead to a growth in the annual car sales to about 6 million units (industry estimate) by 2020.
According to some industry reports, the company is said to have already had informally talked to the companies such as Tata Motors, Hindustan Motors, General Motors India and Mahindra & Mahindra, to establish a possible tie up. The India-Pacific Operations Head of PSA group, Emmanual Delay, said, “I have already visited India several times and we are working on several options to meet the "push to pass" targets set by the CEO for India.”
The company has also planned to launch a range of products across different geographies and countries which is expected to involve the introduction of 8 light commercial vehicles along with 26 new cars in a couple of years, while the company marks its entry in new markets like Iran, India and the Middle East.
October 04, 2016