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Business

Peugeot eyes Chinese market with new model

Text by News Wires

Latest update : 2010-01-26

French car maker Peugeot introduced a new model designed or the Chinese market. The launch is the first outside France.

AFP - French car maker Peugeot said Monday it was aiming to increase sales in China by 30 percent this year, double the growth rate for the country's whole market.

"Peugeot has ambitions to sell 150,000 cars in place of the 110,000 it sold (in China) last year," company spokesman Jean-Marc Gales told reporters at the launch of its latest model, the 408.

Peugeot hopes the 408 will boost sales in China, the world's biggest car market, as it was planned by French and Chinese designers in order to appeal to the Asian giant's drivers, Gales said.

As well as China the 408 is also being lined up for launch in Russia and Latin America, while the car maker has still to decide whether to market it in Europe.

Date created : 2010-01-26

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