PSA drives up goal

• Source: Shanghai Daily
• [08:56 April 20 2010]
• Comments

France's auto maker PSA Peugeot Citroen aims to more than double its market share in China, the world's rapidly growing auto market, to 8 percent by 2020.

Yves Moulin, general manager of the group's flagship Chinese venture Dongfeng Citroen, said PSA wants to accelerate its complete business in China including passenger cars under the Peugeot and Citroen nameplates as well as proposed light commercial vehicles.

"The Chinese market is already the biggest auto market and maybe in 10 years, it will be two times or three times bigger than the second (auto market)," said Moulin on the sidelines of the global premier of its concept plug-in car, Metropolis, in Shanghai on Sunday.

It has been reported that PSA may finalize a deal with its second joint venture partner, Changan Auto Group, in May to expand capacity in China as it lags behind Volkswagen, General Motors and Toyota.

Last year PSA sold 160,000 Citroen cars in China - its second-largest market for the brand.

Moulin said Dongfeng Citroen has plans to increase sales in the country by another 50 percent to 240,000 units this year.