Peugeot: 2014 sales growth to outpace overall China market
PSA Peugeot Citroen expects sales of its Peugeot brand in China to rise at more than twice the rate of the market this year, helped by models such as the 3008, 301 and 408.
Because of the growth, PSA expects China to pass France as the Peugeot brand's largest single market this year.
Peugeot China Deputy General Manager Mathieu Vennin forecasts that the Peugeot brand's local sales will increase 30 percent to 370,000 units this year in a market that is predicted to rise about 13 percent overall.
Last year, Peugeot delivered 275,000 vehicles in China, just 14,600 fewer than the 289,600 sold in France.
Vennin said Peugeot vehicles such as the 3008 SUV enjoy a strong reputation in China. The 3008 is selling well because Chinese buyers are "hungry for any size or form of SUV," Vennin said in an interview at the auto show here last month.
Peugeot aims to sell 70,000 units of the 3008 in China this year despite capacity constraints. It sold 16,500 units of the 3008 in the first quarter. The 3008 is Peugeot's No. 3-selling model in China.
The company's second-best seller is the 308 compact sedan. Peugeot sold 20,000 308s in the first quarter with full-year volume expected to reach 80,000.
In November, Peugeot launched production of the 301 in China, and it expects that car will become its top seller in the market this year.
The 301 will get a boost from its low price. The car, which was developed by PSA for emerging markets, starts at 80,000 yuan (9,250 euros) compared with a base price of 92,000 yuan for the larger and more refined 308.
In the first three months of 2014, Peugeot sold 17,900 units of the 301 in China, and it expects sales for the full year to total 90,000 units.
Later this year, Peugeot will begin Chinese production of the 408, its new flagship for the China market. The 408 is a long-wheelbase sedan version of the 308 compact hatchback sold in Europe. Peugeot does not plan to sell the 408 in Europe.
PSA, together with joint venture partner Dongfeng Motor Group, plans to triple annual sales in China to 1.5 million vehicles in 2020.
Last year, the partners sold 550,000 units, including 270,000 Peugeots and 280,000 Citroens. This year, they aim to sell 650,000 vehicles.
In April, Dongfeng agreed to invest 800 million euros for a 14 percent stake in PSA to ease the French carmaker's financial troubles.
Peugeot China Deputy General Manager Mathieu Vennin forecasts that the Peugeot brand's local sales will increase 30 percent to 370,000 units this year in a market that is predicted to rise about 13 percent overall.
Last year, Peugeot delivered 275,000 vehicles in China, just 14,600 fewer than the 289,600 sold in France.
Vennin said Peugeot vehicles such as the 3008 SUV enjoy a strong reputation in China. The 3008 is selling well because Chinese buyers are "hungry for any size or form of SUV," Vennin said in an interview at the auto show here last month.
Peugeot aims to sell 70,000 units of the 3008 in China this year despite capacity constraints. It sold 16,500 units of the 3008 in the first quarter. The 3008 is Peugeot's No. 3-selling model in China.
The company's second-best seller is the 308 compact sedan. Peugeot sold 20,000 308s in the first quarter with full-year volume expected to reach 80,000.
In November, Peugeot launched production of the 301 in China, and it expects that car will become its top seller in the market this year.
The 301 will get a boost from its low price. The car, which was developed by PSA for emerging markets, starts at 80,000 yuan (9,250 euros) compared with a base price of 92,000 yuan for the larger and more refined 308.
In the first three months of 2014, Peugeot sold 17,900 units of the 301 in China, and it expects sales for the full year to total 90,000 units.
Later this year, Peugeot will begin Chinese production of the 408, its new flagship for the China market. The 408 is a long-wheelbase sedan version of the 308 compact hatchback sold in Europe. Peugeot does not plan to sell the 408 in Europe.
PSA, together with joint venture partner Dongfeng Motor Group, plans to triple annual sales in China to 1.5 million vehicles in 2020.
Last year, the partners sold 550,000 units, including 270,000 Peugeots and 280,000 Citroens. This year, they aim to sell 650,000 vehicles.
In April, Dongfeng agreed to invest 800 million euros for a 14 percent stake in PSA to ease the French carmaker's financial troubles.
