As the European markets become unpredictable due to the incentive programs ending or being phased out, France’s Citroen (which is part of carmaker PSA Peugeot Citroen) is relying on the strong growth in China, Citroen managing director Frederic Banzet told Reuters.
The effect of the global economic crisis on the auto industry has made it necessary for government to provide incentives to raise new-car sales. But these incentives have to end and as that is happening, carmakers are turning to emerging markets to sustain their growth. Banzet describes the environment to be “more uncertain than predictable.” However, he noted that China and the South American markets are exceptions since the company clearly sees continuing growth in those countries.
[via autonews – sub. required]
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