Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
 
PSA slump drags on as company shakes up partnership
Automotive News China | 2017/7/14

PSA Peugeot Citroen's sales in China and Southeast Asia plunged nearly 49 percent to 152,380 in the first six months as the French automaker scrambled to carry out a turnaround plan.

All three PSA brands performed poorly in the first half; Peugeot sales slumped 37 percent to 103,161 while Citroen deliveries crashed 63 percent to 46,062.

The company's upscale DS brand fared worst of all, with volume dropping nearly 64 percent to 3,157 vehicles.

The company did not post country-by-country results for Asia but China accounts for nearly all of its deliveries in the region.

Later this year, the company hopes to get a lift from the launch of the C5 Aircross in China. The company also is shaking up its Chinese partnerships.

PSA signed an agreement last month with joint venture partner Chongqing Changan Automobile Co. to accelerate product development and the rollout of the DS brand in China.

The partners will jointly invest 500 million euros (3.7 billion yuan) to recapitalize the joint venture and introduce new models including electric vehicles under the Citroen DS brand

The joint venture builds Citroen DS models -- the DS 4S, DS 5, DS 6 and DS 7 -- in the south China city of Shenzhen. 
PSA also operates a joint venture with Dongfeng Motor Co. in the central China city of Wuhan that produces vehicles for the Citroen and Peugeot brands. 

Related Stories
  • Dongfeng-PSA skid grows as August deliveries fall
  •     --Published:2017/15/9
     
  • Dongfeng-PSA slump drags on
  •     --Published:2017/18/8
     
  • In maturing market, fresh products trump low prices
  •     --Published:2017/28/7
     
  • PSA to source small engines for European assembly plants from China
  •     --Published:2017/30/6
     
  • PSA's sales continue to tumble
  •     --Published:2017/23/6
     
  • PSA to boost stagnant China sales with new DS models
  •     --Published:2017/16/6
     
  • PSA to build EVs under Citroen DS brand with Changan Auto
  •     --Published:2017/13/6
     
  • PSA sales in China, Southeast Asia plunge in April
  •     --Published:2017/23/5
     
  • PSA's tough task: Fix China slump while absorbing Opel
  •     --Published:2017/28/4
     
  • PSA needs deeper cuts, crossovers and SUVs to halt China slide
  •     --Published:2017/21/4
     
  • Citroen preps C5 Aircross crossover
  •     --Published:2017/18/4
     
  • PSA preps new flagship crossover for DS brand in China
  •     --Published:2017/3/3
     
  • PSA's China sales, hurt by lack of crossovers, fall 16% in 2016
  •     --Published:2017/20/1
       
     
     

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     

     

    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
     
    Home | Help Center | About Us | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    ICP06057291