PSA/Peugeot-Citroen sold a record 3.6 million vehicles last year

Article by Christian A., on January 8, 2011

PSA/Peugeot-Citroen SA's CEO, Philippe Varin, recently said at a briefing in Paris that the company sold a record 3.6 million vehicles in 2010 and remains on track to meet its 2010 profitability target.

Varin added the company's sales rose about 13 percent from 3.19 million vehicles in 2009, even as the European market declined 5 percent.

He predicted that demand in the region will be stable in 2011, while the French market may shrink 10 percent after the withdrawal of scrapping incentives in December 2010.

He has pledged to reduce the company's dependence on Europe, which accounted for 66 percent of its sales in 2009. He added that PSA met its EUR1.5 billion ($2 billion) operating profit target for 2010.

Varin said PSA expects to reach agreement in the first quarter on a second Chinese joint venture announced with Changan Automobile Group Co., and he added that PSA is open to other potential joint ventures elsewhere in the world.

In December 2010, Varin said that planning for a factory investment in India has also entered an “active phase.” PSA is building a factory with Mitsubishi Motors Corp. in Kaluga, Russia, even after talks on a capital tie-up broke down in 2010.

If you liked the article, share on:

Pin It

Comments

Recommended

Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Since 1993, Lexus has produced 4 generations of the Lexus GS, with the GS F amongst its newest member of the family. Unfortunately, rumors are also heating up that the...
by - March 24, 2017
In a leaked image following a presentation held in China, we learned that Czech automobile manufacturer Skoda will soon unveil 2 more new SUVs in China, resulting in a four-model...
by - March 24, 2017
McLaren is said to be designing the next generation of Sports Series, which could include a V6 hybrid among its powertrain options. It was earlier reported that the British automaker...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries