Peugeot is putting plans of all its performance cars on hold, shifting focus towards global expansion. According to the French carmaker, their new policy emphasizes upon increasing global footprint rather than performance cars which are sold in smaller numbers. The performance vehicles, therefore, do not appeal to the brand at the moment, due to their relatively high cost of manufacturing and developing, countered by unimpressive sale figures.
The carmaker has disclosed its plan to sell more than two million units a year around the globe. Peugeot also wants to increase its sales by more than 50 per cent outside Europe. To do that, the carmaker is considering re-entering the African markets with a more robust vehicle, such as a ´one-tonne´ pick-up truck. With the help of partners under the PSA Group, the carmaker is looking into tapping the market’s demand, thus increasing its foothold in newer markets.
Peugeot also wants to make a return to North American market within the next five years. The carmaker aims to start small with a simple mobility provider in the major cities. However, once a proper solution to the distribution issue in the States is found, the French carmaker hopes to become a full-fledged car brand in the American market.
The Paris-based carmaker asserts that a new 508 sedan is in the pipeline which will uplift Peugeot’s image as a premium carmaker in the international markets. And once sales of the other vehicles begin to meet the expected number, only then will the carmaker think of its performance vehicles. The infamous RCZ is not on the cards right now, but the carmaker assures us of bringing out a performance car which will have the Nurburgring lap record.
Peugeot is making its way to India as well. The parent company PSA has signed a joint venture with India’s CK Birla group. PSA aims at manufacturing and exporting one lakh vehicles a year in the initial phase and further investments will be made, depending on market performance. The Indian operations are scheduled to commence by 2020.