PSA/Peugeot-Citroen expects China to become its No. 1 market
By Andrew, 30 Sep, 2010. 0 Comments
2011 Peugeot 508
PSA/Peugeot-Citroen predicts that its sales in China will exceed 350,000 cars this year, which is double what it sold in 2008, according to CEO Philippe Varin. With this forecast, the company expects that China will soon be its No. 1 market. He said that this sales figure is “far behind France” but if this growth trend continues, China could “actually become [its] first outlet.” Currently, China still falls behind France, where the carmaker sold 738,000 cars in 2009.
Varin didn’t provide a timeline but he said that the company will be seeking to increase its market share in China to 8% between 2015 and 2020, from 3.4% currently. Varin told Le Figaro newspaper that with this market share, the company could exceed a million vehicle sales a year in the country.
PSA has partnered with Dongfeng Motor Group for the production of Peugeot 408 Citroen C5 sedans. PSA has also entered a joint venture with China Changan Automotive group to build light commercial and passenger vehicles. [via autonews - sub. required]
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