Over the medium term, China will be the biggest sales market for PSA/Peugeot-Citroen SA, outperforming even its home country France, PSA brands boss Jean-Marc Gales said in an interview with Automotive News Europe. In 2010, the company sold around 870,000 vehicles in France, while in China, it sold 370,000 units and is still increasing, Gales added.
In the same year, PSA obtained a market share of just 3.3 percent in China. Gales stated that the company wants to achieve 5 percent in the country by 2015 and 8 percent by 2020. For this year, the company is targeting 450,000 units in China, Gales revealed.
However, if the market increases to 20 million units annually, the company would be at least 1.6 million vehicles with an 8 percent market share, Gales explained. The company is also banking on other emerging markets such as in Latin America, where it experienced losses in the region for several years.
For this market, the company aims to be profitable there for the first time, climbing to 8 percent from 5.4 percent over the medium term. Gales added that in totality, the company wants to minimize its dependence on Europe with the aid of markets like Brazil, China and Russia.
For last year, the company sold 39 percent of its international sales outside of Europe. By 2015, the company aims to increase the share to 50 percent, giving it a strong ratio.
Moreover, Gales said that the company wants to maintain its European market share to at least 14 percent and “possibly increase it” as long as the growth is profitable.