Peugeot quits Indonesia [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
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Source: Yahoo! Finance
Head of Astra's Peugeot sales, Rokky Irvayandi, said the decision to discontinue the brand's sales was made by the parent company: “Stellantis has made a strategic decision to halt Peugeot sales in Indonesia." Peugeot sales had plunged 68% to 23 units in the first quarter of 2024 after dropping 56% to 199 units in all of 2023. The 2008, 3008 and 5008 models were imported from Malaysia after local assembly was halted several years ago. Peugeot followed a number of western brands to the Indonesian exit in the last decade, including Ford, GM Chevrolet and Renault, all of which have struggled to make a significant impact in this Japanese dominated market. Volkswagen and Audi were still present with negligible sales while only BMW and Mercedes-Benz have succeeded due to their strong presence in the niche luxury segment. Competition in Indonesia has intensified in the last year with the arrival of new Chinese brands. Peugeot's sister company Citroen, also part of Stellantis, is s
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