PSA Peugeot Sales Dropping in China & Southeast Asia!
PSA Peugeot Citroen's sales in China and Southeast Asia continued to slump in May, dropping 50 percent year on year to below 24,800. The French automaker did not release country-by-country sales figures but China accounts for nearly all of PSA's Asian volume. Last month, roughly 16,600 Peugeot models and 8,200 Citroen cars including 500 DS models were delivered in China and Southeast Asia, according to figures PSA disclosed on its website. Through May, PSA’s deliveries in the two markets plunged 49 percent from a year earlier to roughly 130,300 vehicles. PSA's joint venture with Dongfeng Motor Co. in the central China city of Wuhan produces Citroen and Peugeot cars and light trucks. PSA builds Citroen DS models -- the DS 4S, DS 5, DS 6 and DS 7 -- at its partnership with Chongqing Changan Automobile Co. in the south China city of Shenzhen. With sales floundering, PSA signed a deal with Changan earlier this month to jointly invest 500 million euros (3.7 billion yuan) to recapitalize their joint venture and introduce new models including electric vehicles under the Citroen DS brand.
Credit source: Auto News China