Europe's Groupe PSA Citroen on Thursday announced a leasing service for individuals and small and mid-sized businesses without upfront fees.
The company will partner with ALD Automotive, an automotive leasing and fleet management company, for monthly rentals.
"Leasing is one of the favourite ways to have a car across the world and in India, it is slated to grow at a rapid speed," said Roland Bouchara, senior vice president for sales and marketing, Citroen India.
Suvajit Karmakar, Chief Executive Officer and whole-time director of ALD Automotive India, said the leasing service will be without upfront fees or financial risks and it will have maintenance and insurance.
Citroen said C5 Aircross, the company's flagship SUV to be launched by the by end of 2020, and the strategic partnership in leasing will support its ambition to a leading carmaker in India.
Groupe PSA in April 2019 announced its re-entry in India with the brand Citroen. The company showcased Citroen C5 Aircross SUV. The company also said it was also planning to launch four new vehicles from 2021 to support its two per cent market share target in five years.
Citroen C5 Aircross SUV will challenge the likes of Mahindra XUV500, Tata Harrier, Hyundai Tuscon, Jeep Compass and the upcoming MG Hector. The company decided to enter India with Citroen, as it feels C5 Aircross SUV the new range of products will be launched in India before the rest of the world.