PSA sales in China, Southeast Asia slump
PSA Peugeot Citroen's sales in China and Southeast Asia fell 37 percent to 387,007 vehicles last year.
The French automaker did not release country-by-country results for Asia but China represents nearly all of its deliveries in the region.
All three PSA brands suffered steep sales declines.
Peugeot sales slumped 29 percent to 249,223, Citroen deliveries plunged 49 percent to 131,821 and sales of the upscale DS brand tumbled 63 percent to 5,963.
Last year, PSA launched sales of the Peugeot 5008 SUV and the Citroen C5 Aircross crossover in China, but failed to revive China sales.
PSA's joint venture with Dongfeng Motor Corp. in the central China city of Wuhan produces Citroen and Peugeot cars and light trucks.
PSA assembles Citroen DS models -- including the DS 4S, DS 5, DS 6 and DS 7 -- via its partnership with Chongqing Changan Automobile Co. in the south China city of Shenzhen.
With sales thinning to a trickle, PSA signed a deal with Changan in June to jointly invest 500 million euros (3.7 billion yuan) to recapitalize their joint venture. The money will enable the partners to introduce new models -- including some electric vehicles -- for the Citroen DS brand.
All three PSA brands suffered steep sales declines.
Peugeot sales slumped 29 percent to 249,223, Citroen deliveries plunged 49 percent to 131,821 and sales of the upscale DS brand tumbled 63 percent to 5,963.
Last year, PSA launched sales of the Peugeot 5008 SUV and the Citroen C5 Aircross crossover in China, but failed to revive China sales.
PSA's joint venture with Dongfeng Motor Corp. in the central China city of Wuhan produces Citroen and Peugeot cars and light trucks.
PSA assembles Citroen DS models -- including the DS 4S, DS 5, DS 6 and DS 7 -- via its partnership with Chongqing Changan Automobile Co. in the south China city of Shenzhen.
With sales thinning to a trickle, PSA signed a deal with Changan in June to jointly invest 500 million euros (3.7 billion yuan) to recapitalize their joint venture. The money will enable the partners to introduce new models -- including some electric vehicles -- for the Citroen DS brand.
