Peugeot’s scooter division has never managed to raise at the expectations of the French manufacturer as far as sales are concerned. Therefore, under the command of Carlose Tavares which is the new CEO brought in from Renault, the company has took the drastic decision to sell it. It is true that last year, the company saw an 8,2% increase in scooter sales but this wasn’t enough to make them change their mind.
The truth is that in the latest years, the company dealt with a pretty harsh financial situation and their new decision comes as no surprise for us.
For the moment, we don’t have any official confirmation, about this transaction but rumors have it that the company’s scooter division will be bought by Mahindra & Mahindra as hinted by the “Le Parisien” newspaper.
On the other hand, Mahindra is getting bigger and bigger and this acquisition could be another major game changer for the Indian company which is already starting to be seen as a serious player in the automotive industry.
Stay tuned for more details.