Peugeot Looking At China for 508 to be market leader
PSA/Peugeot-Citroen says that their new Peugeot 508 will garner some 200,000 worldwide sales for 2012; the carmaker expects to sell 65,000 units in China and 38,000 in France. If the forecasts are accurate, it will be the first time PSA will sell more units in a single country outside of France for a model that is offered in Europe. The 508 replaces two slow-selling Peugeot cars: the 607 luxury sedan and the 407 executive car. PSA says China will be the largest 508 market as the French.
The 508 meets demand for mid-size cars in China, making up about 25 percent of all cars sold in the country. The sedan and station wagon variants of the 508 will be sold in Europe, while only the sedan version will be sold in China due to weak demand for wagons in China.
The 508 in Europe will rival cars like the Volkswagen Passat, Renault Laguna and Ford Mondeo. However in Asia Pacific Peugeot will have to sell against Korean and Japanese established cars like the Sonata, Optima, Accord and Camry. PSA plans to sell 115,000 units of the 508 in Europe, including in France. The remaining 20,000 sales will come from markets outside of China and Europe. In the coming months through July 2011, the 508 will launch in various markets. Approximately two thirds of 508 production will be in Rennes, France, while the remaining third will be in the Chinese city of Wuhan.
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