Today 09/23/2016 - 05:35:23 PM
Peugeot SA 13.525€
CAC 40 4,488.69 PTS
In the first half of 2014, PSA Peugeot Citroën's unit sales in China rose 28% in a market up 12.3% thanks to the performance of joint ventures Dongfeng Peugeot Citroën Automobile (DPCA) and Changan PSA Automobile (CAPSA). China has been the Group's largest world market since March 2014.
DPCA recorded sales growth of 24.5% during the period, with 342,900 units sold. This increase, representing almost twice that of the market, lifted the Dongfeng-PSA Peugeot Citroën joint venture's market share by 0.4 points over the first half to 4.2%.
Dongfeng Peugeot's sales rose 33%, with 183,400 units invoiced. The Peugeot 2008 launched on 17 April got off to an extremely fast start, with more than 11,100 units already invoiced at the end of June. The 3008 pursued its strong growth, with units sold up 37% to 33,700. In addition, the 301 confirmed its good trend since launch, with 36,700 units sold in the first half, and the 308 remained a strong performer, with 44,200 units sold.
DF Peugeot's dealership network further expanded to 436 outlets at 30 June, on track to meet the target of 480 dealerships at the end of the year.
In the second half, DF Peugeot will launch the new Peugeot 408, the first car developed in China on the new EMP2 platform.
Dongfeng Citroën's sales rose 16%, with 159,900 units invoiced. The new C-Elysée enjoyed very strong sales during the period, with 45,700 units invoiced at 30 June, while the C4L recorded a 75% increase in unit sales to 35,000.
The DF Citroën network also continued to add new dealerships, reaching a total of 442 at 30 June for a year-end target of 470.
Sustained growth in sales has led DPCA to raise its 2014 sales target to 700,000 units from the initially targeted 650,000.
CAPSA, the joint venture between Changan and PSA Peugeot Citroën, achieved unit sales of 9,800 over the first half, thanks in particular to the performance of the DS 5 and DS 5LS, two models produced at the Shenzhen plant and launched in September 2013 and March 2014, respectively. Growth was also supported by the development of the distribution network, which included 60 DS Stores at 30 June, in line with the objective of covering China's 70 largest cities by end-2014.
In the second half, the brand will launch its first premium SUV. Unveiled last April at the Beijing Auto Show under the DS 6WR name and well received by the media and public, this model will enhance the brand's sales performance in China.
With the 2 July announcement that DPCA intends to build a fourth production facility in Chengdu, PSA Peugeot Citroën and its two joint ventures, DPCA and CAPSA, will have a total of five assembly plants in China in 2016 with an aggregate production capacity of 1.2 million vehicles.
Commenting on the first-half sales results in China, Grégoire Olivier, Executive Vice President, Asia, declared: "The Group's results in China are excellent and we are growing twice as fast as the market. The increase in sales exceeded expectations, with volumes up a robust 28% and market share widening to 4.36%. Looking forward, we plan to leverage our strategic partnership with Dongfeng in China and beyond, while continuing, of course, to actively develop the DS brand with CAPSA."