Philippe Varin, the CEO of PSA/Peugeot-Citroen SA gave a briefing in Paris recently about the company’s sales. He stated at the conference that the company had sold a whopping 3.6 million units of vehicles in the business year 2010. Thus the company is in sync with their target profit for 2010. Varin further stated that sales for the company rose about 13 percent from the count of 3.19 million vehicles in the year 2009. Meanwhile, the sales of vehicles fell by 5 percent from last year. He went on to predict that the demand for cars in this particular region is gradually gaining stability in 2011. But he regretted that there is a possibility that the French market might decline by 10 percent in this year. This may occur as an after effect of the withdrawal of the scrapping incentives which came into effect in December 2010.
In spite of a dip in sales last year Europe has always had a lion’s share of profit in the company’s sales. Europe accounted for 66 per cent of the company sales in the year 2009. However, Varin has pledged the company will try and reduce its dependence on Europe alone to drive its sales. He further added that the PSA is in talks to form a brand new collaboration with China for the second time in the first quarter of 2011. They are in probability of joining hands with the Chinese company of Changan Automobile Group Co. He also stated that PSA are also planning to join hands with various other companies around the world. Thus we may conclude that PSA is planning to make it large on the global map as well.
Varin stated in December 2010 at a meet that the company is planning to invest its funds to start a new collaboration in India. The deal was in its later part of the phase. PSA also has some good news for Russia. They are constructing a new factory in Kaluga in Russia in collaboration with Mitsubishi Motors Corp. The deal was finalized after rumors of a breakdown of the plans recently.
Source: 4wheelsnews
