China to Become Peugeot's No. 1 Market by 2015

There's no doubt China is becoming the main source of money for most large carmakers so, in order to take full advantage of the Chinese boom, companies are investing massive amounts of money into local operations. Peugeot is one of the names that are hoping to see China return the favor and, according to the latest estimates, this thing is going to happen by 2015.

Timothy Zimmerman, a China-based Peugeot executive, told the Wall Street Journal that China is in the race of becoming the number one market for Peugeot by 2015. This actually means that China will thus surpass France in new car sales for Peugeot, the home land were the company currently sells around 400,000 cars a year. Peugeot holds a 19 percent market share in France, the official said.

The Chinese plans however are much more optimistic than those for the domestic market. Peugeot intends to deliver a total of 200,000 vehicles in China, up from 150,000 units this year and 112,000 units in 2009.

In order to reach its goal, Peugeot will continue its expansion plans in China, raising the number of dealerships from 165 at this moment to 220 by the end of this year. Furthermore, new models will be sold in China, including imported crossovers plus some other vehicles that will be manufactured locally.

PSA will also work with Dongfeng on an expansion plan that includes rolling out no less than 12 new models in the years to come, starting with the 508, which will be launched in the country in 2011. The model will be followed by several other models, including an SUV and new small family cars.