PSA Peugeot Citroen, a French automotive group, which has already announced its intent on entering Indian automotive industry reportedly, plans to open its India innings in 2012 under Peugeot marque. As per the report, PSA Peugeot Citroen will begin signing up with dealers and introduce its flagship 508 premium saloon as fully designed model in both diesel and petrol variants. It will be available between the price range of Rs. 18 to 22 lakhs and will compete with other models like Volkswagen Passat and Honda Accord. It was recorded that last of ten most significant automotive groups to enter into Indian automobile market with maximum yearly capacity of 3.4 lakh models.
The report also mentioned that it has been selected 560 acres at Sanand facility of which the PSA Peugeot Citroen aims to first use 292 acres to set up initial yearly capacity of 1.7 lakh models. As per the report, the French automotive group has large plans for 2012 Auto Expo and there are three cars destined for Indian market. An industry official said that they have planned to come with French brand with CBU cars from next year before volume models come in. The 2012 Auto Expo will mark the PSA Peugeot Citroen’s initial formal presence in the country and will showcase cars, which will demonstrate DNA of Peugeot. They have built the first diesel hybrid of the world said company official.
PSA Peugeot Citroen is a French automobile manufacturing company of bikes and automobiles marketed under Citroen and Peugeot brands. Situated in 16gth arrondissement of Paris, it is the 2nd biggest carmaker in Europe and 8th in the world.