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PSA expects China to become Peugeot’s biggest market

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PSA expects China to become Peugeot’s biggest market

With the French automaker, Europe’s second biggest, now deeply allied with its China partner Dongfeng Motors, PSA also expects to increase Peugeot’s brand sales at a rate double the industry’s average gain.

The automaker expects Peugeot’s deliveries to rise on growth from models like the 3008, 301 and 408, with PSA Peugeot Citroen expecting China to overcome France and become Peugeot’s biggest single market.

Mathieu Vennin, Peugeot China Deputy General Manager, says the company forecasts the Peugeot brand’s China sales to grow by 30 % to 370,000 units in 2014, up from last year’s 275,000 vehicles delivered – which was just 14,600 shy of the 289,600 cars it sold in its home market.

Alongside joint venture partner Dongfeng, PSA plans to increase annual sales in China threefold, to reach 1.5 million vehicles in 2020 – after last year they reached sales of 550,000 cars, aiming to deliver 650,000 vehicles in 2014.

Peugeot forecasts its 301 model to be the brand’s China best seller, after it began local production of the model last November – the automaker also aims to deliver 90,000 units of the emerging markets low-cost model after first quarter sales of 17,900 units. The company also intends to begin China production of the 408, a long wheelbase sedan model derived from the 308 hatchback, serving as the company’s new flagship there.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Friday, May 2nd, 2014 - filed under Industry, News, Peugeot. Image credit: .
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