Peugeot believes China market will grow 10 – 20% in 2010

Dongfeng Automobile Company, Dongfeng Peugeot-Citroën Automobile | Ash | January 12, 2010 at 3:49 pm

Perhaps they are over estimating their figures:

Peugeot-Citroen, the French manufacturer of cars, has shared that it is expecting the Chinese automobile market, which recently outraced the US market to become the world’s biggest market for automobiles, to continue expanding at a very strong pace.

The firm said that it believes that compared to 2009, the market would end up expanding another 10%-20%.

Head of the Peugeot and Citroen brands, Jean-Marc Gales, said that the European market will most probably contract by a one-figure percentage point over 2010, while also sharingPeugeot- Citroen manufactured a total of 3.05 million vehicles last year, or 139,000 fewer than it sold.

“In 2010, markets are expected to show signs of recovery around the world, with the exception of Europe, which will probably experience another decline as scrappage schemes are removed or phased out with gradually declining incentives. The second half should see some glimmers of improvement, however”, the company said.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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