The French car manufacturer Peugeot Citroen has announced the plans to build two budget sedans in Russia, which will be specially developed for emerging markets.
According to the CEO of Peugeot Citroen Russia, Ukraine and CIS, Bernd Shantts, the new Peugeot model will be based on the 308’s platform, and it will be similar to the low-cost sedan manufactured and sold in China and Latin America as the 408.
The new low-cost sedan from Peugeot, which can also “wear” the 408 badge, is expected to hit the production line next year and arrive in the dealerships in late 2012 for a price less than 20.000 US dollars.
The company will also start production of a low-budget sedan for the Citroen brand, which could be based on the C4.
The manufacturing of the two low-cost sedans is part of a plan of PSA Peugeot Citroen to increase car sales into Russia over the next years, with sales which are expected to go up from 2.7 percent to 6 percent.