French car maker PSA Peugeot-Citroen expects the Chinese automobile market to continue expanding at a robust pace in 2010, by between 10% and 20% compared to 2009, a senior executive said Monday.
Jean-Marc Gales, head of the Peugeot and Citroen brands, said the European market is likely to contract by a single-figure percentage point this year.
Gales told a press conference that Peugeot-Citroen manufactured 3.05 million vehicles last year, or 139,000 fewer than it sold.
The reduction in inventory is continuing, he told Dow Jones Newswires.
