Peugeot bets on utility cars, premium SUVs to boost Brazil sales

Peugeot bets on utility cars, premium SUVs to boost Brazil sales

Chamber Articles Category: Industry News Post Date: 10/05/17 Source: Reuters By: Alberto Alerigi, Marcelo Teixeira and Andrew Hay
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French car maker Peugeot SA (PEUP.PA) on Wednesday said it was focusing on utility vehicles to lift its market share in Brazil and would offer a similar set of models as it sells in Europe.

The plan is part of the company’s strategy to improve consumer perception of its products and, as a result, its performance in the Brazilian market.

It follows Peugeot’s 207 project, in which the company adapted a small, older European model for the Brazil market to lure customers with a cheaper car, but saw disappointing results.

Brazil is seen by Peugeot, a Groupe PSA company, as one of five priority markets in the world, said Chief Executive Jean-Philippe Imparato to reporters in Sao Paulo on Wednesday.

“Sales volumes are not our outright target. I prefer to boost our brand image,” he said.

“We are not going to fall again in the temptation of developing a small car specifically for Brazil, we are not going to sell at any price,” he added, detailing the plan for the Brazilian market to converge to the same set of models Peugeot offers in Europe in five years’ time. Read Full Article