Azernews.Az

By Bloomberg

PSA Peugeot Citroen’s deliveries rose for the first time in four years in 2014 as the automaker benefited from strong demand in China, where it now sells more cars than in its home market of France.

Sales increased 4.3 percent to 2.94 million cars and light commercial vehicles from 2.82 million a year earlier, boosted by demand for the 2008 and 3008 crossovers as well as the 308 hatchback, the Paris-based manufacturer said. That’s still about 18 percent lower than in 2010, when Peugeot, Europe’s second- biggest carmaker, reported its last full-year growth with record sales of 3.6 million autos. Chinese sales surged 32 percent.

Peugeot, which may also post a full-year profit for the first time since 2011, has teamed up with Chinese manufacturer Dongfeng Motor Corp. to expand outside Europe, which accounted for about 60 percent of the the company’s deliveries last year. The French company is cutting costs by restructuring its Russian and Latin American operations, selling its scooter business and moving its headquarters from central Paris.

The Peugeot brand’s “remarkable” performance in China and the global success of the new models allow the company “to look toward 2015 with confidence,” Maxime Picat, head of the division, said in a statement.

The French manufacturer and Dongfeng have a target of selling 1.5 million vehicles annually in China by 2020. Peugeot’s group sales in the country last year amounted to 734,000 vehicles, with the market accounting for 22 percent of the new DS brand’s global deliveries.