PSA-Dongfeng venture lowers 2019 sales target, report says
Dongfeng Peugeot Citroen, PSA Peugeot Citroen’s main joint venture in China, lowered its sales target for this year after its January deliveries plunged 63 percent from a year earlier, according to a Chinese media report.
The new target of 235,000 vehicles, down from 260,000, was set during a meeting of the company’s Chinese and French managers, China Business News, a Shanghai newspaper, reported this week.
In January, Dongfeng Peugeot Citroen delivered roughly 12,300 vehicles under the Peugeot and Citroen brands, according to the China Passenger Car Alliance, a Shanghai consultancy.
The company was incorporated in the central China city of Wuhan in 1992 as a 50-50 partnership between Dongfeng Motor Group and PSA. It has four assembly plants in China, which combined can produce up to 840,000 vehicles a year.
After peaking at 704,000 sales in 2015, Dongfeng Peugeot Citroen’s annual deliveries have been stuck in a downward spiral.
In 2018, its sales slumped 33 percent year on year to some 253,000 vehicles.
PSA also has a joint venture with Changan Automobile Co., which builds and markets Citroen DS product line.
Changan PSA, with annual production capacity of 200,000 vehicles, has had its sales thin to a trickle since its establishment in 2011.
In January, the company delivered just 303 vehicles. Last year, it sold fewer than 3,900, according to China Passenger Car Alliance.
In January, Dongfeng Peugeot Citroen delivered roughly 12,300 vehicles under the Peugeot and Citroen brands, according to the China Passenger Car Alliance, a Shanghai consultancy.
The company was incorporated in the central China city of Wuhan in 1992 as a 50-50 partnership between Dongfeng Motor Group and PSA. It has four assembly plants in China, which combined can produce up to 840,000 vehicles a year.
After peaking at 704,000 sales in 2015, Dongfeng Peugeot Citroen’s annual deliveries have been stuck in a downward spiral.
In 2018, its sales slumped 33 percent year on year to some 253,000 vehicles.
PSA also has a joint venture with Changan Automobile Co., which builds and markets Citroen DS product line.
Changan PSA, with annual production capacity of 200,000 vehicles, has had its sales thin to a trickle since its establishment in 2011.
In January, the company delivered just 303 vehicles. Last year, it sold fewer than 3,900, according to China Passenger Car Alliance.
