Peugeot Citroen and a Partnership with Chang’an Auto
France’s PSA Peugeot Citroen announced its collaboration with China’s Chang’an Automobile Group, on Wednesday. This giant joint venture with China, the second of its kind established by Peugeot Citroen in the East Asian region after a longstanding joint venture with Dongfeng Motor Corporation, is one of the most lucrative among such ventures, as China is now considered as the largest auto market in the world, overtaking the United States. China’s car sales reached 13.64 million units in 2009.
What “boosted” China’s rank in the auto business is not just the expanding resources of China, but also the incentives offered by Beijing, as lower taxes on purchases and the subsidies on fuel-efficient vehicles.
Citroen Head, Frederic Banzet, reported that Citroen sales in China rose by 14% this year, with more expectations to double-digit the growth of these sales. Banzet also added, “China is the number one priority for Citroen’s development”. The collaborated Companies had two factories of 450,000 vehicles production capacity.
According to Jean-Marc Gales, Director of Peugeot brands, "Asia is a priority".
Although, PSA had a good position in the three major markets around the globe, Europe, China and Latin America, Peugeot Citroen ranked second in Europe’s automobile industry, after German giant, Volkswagen.
Frank Ntilikina was one of the top 10 prospects in...Read More
The heat wave that has held France and much of...Read More
The French Parliamentary elections are over....Read More
After the unequivocal majority win of France’s new...Read More
French labor laws have become a contentious issue...Read More