PSA Peugeot Citroen is maintaining its target of moderate growth for sales in 2005, with a stable European market, the company’s chairman Jean-Martin Folz said at the Frankfurt car show (IAA).
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Asked by reporters about his forecasts for results for this year, Folz confirmed ‘the goal of a moderate growth in sales, with a stable European market’ and ‘strong pressure for a cut in prices’ from competition in Europe.
“Since the beginning of 2005, we are on an improving trend in Europe and we are going to continue to grow our share of the market from one half-year to the next,” Folz said.
Asked about rising oil prices, Folz reaffirmed they could have “a macroeconomic impact on purchasing power and a microeconomic impact on consumer choice” among the various car models.
“If the oil shock turns out to be long-term, car buyers will turn their attention more and more to vehicles which consume less fuel’, said Folz. ‘And we are well placed, like Renault, with several low fuel consumption vehicles,” he added.
Peugeot is planning to use this as a selling point, stressing the advantages of its low fuel consuming vehicles, Folz said.
