Peugeot Citroen to re-enter India, to launch sedan

Europe's second largest car-maker PSA Peugeot Citroen today announced plans to re-enter the Indian market with a mid-sized sedan, ten years after it made an exit from the country.

The French company, which in 2009 decided to go slow on plans to kick off operations in India due to a global economic slowdown, will set up a plant to manufacture the vehicle locally. The location for the facility is still being evaluated.
"Peugeot is pleased to announce its intention to enter the Indian market with both commercial and industrial operations. The brand will produce, as a first step, a mid-sized sedan car," the company said in a statement.
Without sharing any timeframe for introducing the product in the country, the company said its objective is to sell 50 per cent of its total vehicles outside Europe by 2015, compared to 39 per cent in 2010.
"India is a key market and this new implantation reflects our ambition to become a global player. As in China, we will offer Indian customers vehicles adapted to their expectations," PSA Peugeot Citroen Executive Vice-President (Asia) Gregoire Olivier said.