Last time we talked about the French PSA Peugeot Citroen group, it was about their Euros 650 millions ‘under-construction’ plant in India. Now, the news is that the group is busy re-evaluating its plans for Indian market and has even gone ahead with making plans to shut down the PSA’s Mumbai office.
It may be noted that Peugeot is Europe’s second largest car maker after Volkswagen but its annual global sales fell by 1.5% to 3.5 million as compared to last year’s sales. The car maker wishes to make up for declining demand in Europe by capturing the car market in developing nations. We are getting to hear that the auto maker is working out strategies for “frugal spending” on the India project.
It will be interesting to see how the French car maker cuts down on its Indian expenditure and try capturing our market at the same time.