Peugeot has been fighting hard through the economic crisis in Europe. As a result of which PSA Peugeot Citroen had to surrender its 600-acre land at Sanand, Gujarat where they were planning to set up a manufacturing unit. The company had planned to invest nearly Rs. 4,000 crore in the manufacturing unit but for now, their plans in India have been laid off for some time.
The company officials have commented that all possible turnaround strategies for the Peugeot have been directed towards Europe for now and that it is only after the result of the Europe’s revival plans that the company will take a decision regarding India. We had reported earlier as well about the status of the company, where they have drastically cut down their staff and also shut down their facilities in France since their market share has been shrinking.
The Peugeot India staff has also been cut down drastically and activities like product trials etc. have also been put on hold for now. Initially the company was planning to roll in the Peugeot 508 in India followed by the Peugeot 3008. For now, they are looking at China to derive volume sales.