Chennai: French automobile major Groupe PSA is aiming for two percent market share in India in four to five years’ time beginning 2020 when it will launch its sports utility vehicle (SUV) Citroen C5 Aircross, a senior company official said on Wednesday.
Speaking to reporters here, PSA Executive Vice President and India-Pacific Head Emmanuel Delay, said: “We are not looking at an ambitious target of five percent market share. Our business is resilient even with two percent market share.” “We are not chasing market share,” said the Chairman of the Managing Board Carlos Tavares.
According to Delay, the group has the advantage of studying why the competition did not do well and fine-tune its own strategy as per the findings. He said the competitors had put in huge investments up front to roll out unrealistic volumes. “Powertrain in a vehicle is difficult to localize. But in the case of Groupe PSA, the first product that was made was the powertrain for the local and export market,” Delay said.
The French group has tied up with India’s C.K.Birla group to make gearboxes and vehicles in India. Located in Hosur, the gearbox plant was inaugurated in November 2018. Officials said the localization levels in the vehicles will be as much as 98 percent. The Groupe PSA also showcased a model of its Citroen C5 Aircross.
When pointed out none of the European car brands are doing very well in India as compared to the Asian brands, Jackson said the Indian market was well researched before deciding on the model. According to her, the model to be launched is a global brand and the company will follow a disruptive approach to the market. She said the group will launch a new model every year starting 2021, after the launch of SUV in 2020, and the brand will be positioned in the heart of the market and is not a premium product. (IANS)
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