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

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.

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