PSA expects Peugeot brand to grow 30% in China this year

Article by Christian Andrei, on May 2, 2014

PSA/Peugeot-Citroen is expecting China sales of the Peugeot brand to grow 30 percent in 2014. Such growth would make China as the brand’s largest single market this year, topping its home market France. Peugeot China Deputy General Manager Mathieu Vennin expects that brand’s domestic sales to jump 30 percent to 370,000 in a market that is seem to leap around 13 percent.

PSA sold 275,000 Peugeots in China in 2013. According to Vennin, Peugeot offerings like as the 3008 SUV has been selling well as buyers are “hungry for any size or form of SUV.” Peugeot is targeting to sell 70,000 units of the 3008 in China this year, after selling 16,500 units in the first quarter.

Peugeot’s strong performance in China is also boosted by strong demand for the 308 compact sedan, around 20,000 of which were sold in the first quarter of 2014. The brand expects to sell around 80,000 unitsof the 308 in full year 2014.

On the other hand, Peugeot is expecting the 301 to rise as its best-seller in China in 2014, after commencing local output in November 2013. The 301’s primary appeal would be its price, which starts at CHY80,000 (about EUR9,250).

This compares with a starting price of CHY92,000 for the larger Peugeot 308. The brand sold around 17,000 units of the 301 in China in the first quarter of 2014, and expects to sell a total of 90,000 units for the full year.

The brand is set commence local production of its new local flagship -- the 408, which is a long-wheelbase sedan version of the 308 compact hatchback being sold in Europe. PSA, in collaboration with joint venture partner Dongfeng Motor, is planning to triple its annual sales in the country to 1.5 million vehicles by 2020, after selling 550,000 units in 2013. [source: automotive news - sub. required]

Topics: peugeot, china, sales

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