Sales of PSA's joint venture with Dongfeng grew 38 percent in 2010
Dongfeng Peugeot Citroen Automobile Co. reported sales of more than 373,400 vehicles in 2010, up 38 percent from 2009.
The figure includes 149,400 Peugeot vehicles and 224,000 Citroens, according to the company's Web site.
Its sales revenue reached 37 billion yuan ($5.6 billion) in 2010, up 55 percent from a year earlier.
Established in 1992, Dongfeng Peugeot Citroen is a 50:50 joint venture between Dongfeng Motor Corp. and PSA Peugeot Citroen.
It currently builds the Peugeot-badged 307, 207 and 408 cars as well as Citroen-branded C4 Quatre, Elysee, C5, C2 and C-Triomphe cars and at its two plants in the central China cities of Wuhan and Xiangfan.
In September 2010, the company announced that it would open a new assembly plant in Wuhan in 2013 to increase its annual production capacity to 600,000 units, up from 450,000 units. It will launch 12 new models in China over the next five years.
To expand its presence in the world's largest auto market, PSA incorporated its second Chinese joint venture in the south China city of Shenzhen last July.
Equally owned by PSA and China Changan Automobile Group Co., the venture will build upscale passenger cars and light commercial vehicles for the Peugeot and Citroen brands. It will launch its first vehicle in the second half of 2012.
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