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PSA-Dongfeng venture lowers 2019 sales target, report says
Automotive News China | 2019/2/22

Dongfeng Peugeot Citroen, PSA Peugeot Citroen¡¯s main joint venture in China, lowered its sales target for this year after its January deliveries plunged 63 percent from a year earlier, according to a Chinese media report.

The new target of 235,000 vehicles, down from 260,000, was set during a meeting of the company¡¯s Chinese and French managers,  China Business News,  a Shanghai newspaper, reported this week. 

In January, Dongfeng Peugeot Citroen delivered roughly 12,300 vehicles under the Peugeot and Citroen brands, according to the China Passenger Car Alliance, a Shanghai consultancy.

The company was incorporated in the central China city of Wuhan in 1992 as a 50-50 partnership between Dongfeng Motor Group and PSA. It has four assembly plants in China, which combined can produce up to 840,000 vehicles a year. 

After peaking at 704,000 sales in 2015, Dongfeng Peugeot Citroen¡¯s annual deliveries have been stuck in a downward spiral. 

In 2018, its sales slumped 33 percent year on year to some 253,000 vehicles. 

PSA also has a joint venture with Changan Automobile Co., which builds and markets Citroen DS product line. 

Changan PSA, with annual production capacity of 200,000 vehicles, has had its sales thin to a trickle since its establishment in 2011. 

In January, the company delivered just 303 vehicles. Last year, it sold fewer than 3,900, according to China Passenger Car Alliance.

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