French carmaker Peugeot aims to not only boost sales volumes but the company’s image as well in Brazil, one of the 5 priority markets for cars in the world.
In a significant development that is aimed at improving French carmaker Peugeot SA’s consumer perception, the carmaker stated it was focusing on utility vehicles to lift its market share in Brazil.
It plans on launching similar set of models for the European market.
As per Jean-Philippe Imparato, Peugeot’s Chief Executive, Brazil is one of Peugeot’s priority since it is one of five priority markets in the world.
“Sales volumes are not our outright target. I prefer to boost our brand image,” said Imparato. “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”.
For Peugeot, France, China and Iran are currently the largest markets.
Although he declined to cite a sales target for Brazil or Latin America, he said the country is a priority for future brand development for the company.
As per Fenabrave, Peugeot’s market share in Brazil is 1.22% having sold 19,128 vehicles in Brazil this year. In comparison, General Motors has a market share of 17.9% while Peugeot’s French rival Renault has cornered a market share of 7.79%.
Peugeot is aiming to offer high-end models, including premium SUVs in Brazil.
In June when it launched its 3008 model in Brazil, there was a four-month waiting time for interested buyers, said Peugeot.
While the situation was a problem, since demand exceeds supply, it is also an opportunity, said Imparato.
The French carmaker is set to sell the 5008 version of its premium SUV in Brazil next year.