French automotive brand Peugeot has turned more bullish about its growth prospects in the Philippines with the appointment of a new distributor, which will open seven more dealerships this year.
Peugeot used to be under the Columbian Group of Companies. Now, it’s under Astara, one of the biggest automotive distributors in Europe and Latin America. It will have 11 dealerships at the end of the year, the company said in a statement on Monday.
“Astara’s global expertise in cutting-edge technology will support Peugeot Philippines’ digital transformation at all levels by the second quarter of this year. To bring the brand closer to more Filipinos nationwide, Peugeot Philippines aims to open seven more dealerships on top of the current four outlets, totaling 11 by end of 2022,” it said.
Global automaker Stellantis, which houses the Peugeot brand, expressed their optimism in the new distributor. “Astara will bring to the Philippines its strong expertise in strategy implementation and a wealth of cross-market experience to realize the potential of Peugeot in the Philippines,” said Christophe Musy, Stellantis senior vice president for Association of Southeast Asian Nations (Asean).
The company also launched yesterday its New Peugeot 5008 SUV, which costs more than P2.2 million. It will also introduce three new vehicles aside from the new SUV, with details to be announced later.
The New Peugeot 5008 SUV is assembled at the Stellantis manufacturing plant in Gurun, Malaysia. Sourcing the units within the Asean will help keep the vehicle prices within reach of Peugeot’s target market, a top official said.
In a press briefing on Monday, Peugeot Philippines Brand Head Maricar Parco said:
“Sourcing our product from Asean helps us price our cars more competitively compared to before when we sourced them from Europe.”
“Of course, we are able to bring products faster because of the proximity since we are in the region,” she added.