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China, the Group's strategic market and one of the world's largest car market
China is the world’s largest auto market and a strategic market for Groupe PSA. Dongfeng Peugeot Citroën Automobile Co.,Ltd. (DPCA), the 50:50 joint venture formed between Groupe PSA and Dongfeng Motor Corporation in Wuhan, China in 1992 plays a key role for Groupe PSA’s success in this market.
Currently, DPCA sells Peugeot and Citroën brand vehicles in China. In September 2019, DPCA revealed its “YUAN” strategic plan, composed of 3 phases:
A stabilizing phase to “create vitality”, reduce the breakeven point to 180,000 vehicles and improve cash flow generation in 2019. A series of new energy vehicles (PHEV + BEV) will be launched in 2020.
A recovery phase to “develop vitality” aiming at further lowering the breakeven point to 150,000 vehicles, restoring profit and increasing the annual sales volumes to 250,000 vehicles by 2021.
A renascence phase to “exploit vitality” between 2022 and 2025, launching competitive new vehicles in line with Chinese client expectations and technical evolutions, further optimizing the products structure, aiming at increasing the annual sales volume to 400,000 vehicles.
Groupe PSA also produces and sells DS Automobiles brand vehicles via its partnership with Changan Automobile Co.,Ltd. in China since 2011.
Groupe PSA is expanding its activities in China through acquisitions and strategic partnerships in the aftermarket market with JianXin, UAP and Longstar and in the B2B used vehicle sector with FengChe.
In addition, the Group also operates its other businesses in this region, such as Free2Move, EUROREPAR, Used Car, Financial Leasing etc. Along with other eight R&D centers of Groupe PSA, Shanghai R&D Centre also plays an important role for the Group’s new car models design and cutting-edge technologies development.