Paris (AFP) – Peugeot Citroen said Wednesday strong quarterly sales in China and by its car-parts subsidiary has kept its drive away from crisis on track, despite an overall lacklustre performance. Europe’s second-largest carmaker is pinning much of its recovery strategy on a tie-up agreed this year with Chinese group Dongfeng and on another Chinese venture.Peugeot’s third-quarter sales in China, the biggest auto market in the world, leapt by 44.4 percent. Its market share widened by 0.7 percentage points to 4.4 percent.The biggest underlying factor behind the group’s global revenue was growth in its auto-parts subsidiary Faurecia.Total group sales in …read more
Source: Business Insider
