Citroen India to enter automotive leasing space
The deal with ALD Automotive ensures a two-pronged approach (booth sales and lease revenue) for Citroen in India
French auto major Groupe PSA as entered into a partnership with ALD Automotive, an automotive leasing and fleet management company, and will introduce Citroen Lease in India to offer full leasing services for its potential customers. Groupe PSA, the parent company of Citroen is the second auto brand, after Hyundai, that ALD has entered into a partnership with.
Speaking on the deal, officials from Groupe PSA emphasised that the partnership in the leasing area will support Citroen’s brand offensive in 2020, with the launch of its flagship SUV, the C5 Aircross.
Roland Bouchara, Senior VP, sales and marketing, Citroen India, said that the leasing market is slated to grow at a rapid speed in India, and that Citroen Lease will be available across the entire product line-up at an attractive monthly lease rental.
This deal could not have come at a better time, as automobile sales have been deteriorating. Hence, the market for leasing, which gives customers the option for using the vehicle at a price comparable to an EMI while worrying about none of the usual issues such as service, maintenance or resale value, will definitely find favour.
Citroen’s India plans
Citroen’s first product for the Indian market, the Citroen C5 Aircross premium SUV, is slated for launch next year. However, this isn’t the brand’s first Indian foray. They had previously been in India in the ‘90s with the Peugeot 309, which was powered by the TUD5 1.5-litre diesel engine that went on to do duty in the Maruti Suzuki Zen D even after Peugeot shut shop in India. More recently, the brand had bought the rights of the Ambassador name, hinting at a resurgence of the moniker in a newer platform.