Auto Expo 2012: Luxury car segment on a roll
French car maker PSA Pugeot Citroen is having a top-down approach and will come up with a luxury car to begin with. Also debuting at this expo is the iconic German car, the Mini from the BMW stable.
Sales numbers indicate that these are turbulent and testing times for the auto sector. But global auto makers see potential in India which is positive for the auto sector.
French car maker PSA Pugeot Citroen is setting up its manufacturing unit in Sanand Gujarat.
Though known for its mid-size sedans, PSA is having a top-down approach and will come up with a luxury car to begin with.
“We are looking at a CBU model to begin with for India and it’ll be an ultra-luxury model car that will be launched by the end of next year. Following that will be our big selling model the 508,” said Frederic Fabre, MD, PSA Peugeot Citroen.
Also debuting at this expo is the iconic German car, the Mini from the BMW stable.
The country's second largest carmaker saw phenomenal success through its new Verna. Hyundai is now replicating a similar styling in its new Sonata. It's new small car the e-on though is yet to find traction in the market.
“The market has been volatile over the past six months. The first two months of launch were not on target. But last month we have seen good volumes for the e-on. We are not looking at reworking any strategy yet. We will wait and watch,” said Arvind Saxena, Sr Vice President at Hyundai India.
Though a surprise element from any of the auto makers is missing, the sentiment is upbeat.