PSA Peugeot Citroen expects China to become its top market and could sell over 350,000 cars there this year, CEO Philippe Varin said.
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” … we should exceed the 350,000 in sales this year, or a doubling compared to 2008. That is far behind France. But if our growth continues as expected, this market (China) will actually become our first outlet,” Varin told Le Figaro newspaper.
China, where both Peugeot and Citroen have a local joint venture assembly operation, is now PSA’s second largest market. PSA Peugeot Citroen sold 738,000 cars in France in 2009, according to Reuters.
Without giving timing, Varin said the automaker aimed to raise its China market share to 8% between 2015 and 2020, versus 3.4% now.
“With such a market share we would surpass 1m vehicle sales a year in the country,” he added.
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By GlobalDataPSA’s JV with Dongfeng Motor makes Peugeot 408 and Citroen C5 sedans. Another joint venture – with China Changan Automotive group – makes light commercial and passenger vehicles.
