Financial Daily from THE HINDU group of publications
Saturday, Sep 04, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 04, 2004 |
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Cars Industry & Economy - Cars Citroen watching the road to India Neha Kaushik
New Delhi , Sept. 3 FRENCH maker PSA Peugeot Citroen is currently studying the Indian market to introduce its Citroen range of compact cars in the country.Industry officials point out that the company is in the process of identifying dealers to introduce its cars through the completely built unit (CBU) route. Citroen has an assembly plant in Thailand and may look at getting its models from there. Incidentally, the last few months have seen a large number of foreign automakers, primarily those in the premium segment, introduce their models in the Indian market. These include companies such as Nissan, Audi, Bentley and Porsche. Ferrari and Maserati, too, are set to foray into the market soon. The reason, of course, lies in the growing number of people in the high-income category in the country. Recent surveys have pointed out that number of millionaires in the country is increasing at a steady rate and so is the appetite for luxury cars. Mr Satya Bagla, who owns the dealerships for Porsche and Bentley in New Delhi, points out that sales for both the brands have been very encouraging till now. Incidentally, while the Porsche range in India is available for between Rs 45 lakh and Rs 1 crore, the Bentley range is priced at over Rs 1.5 crore.
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