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.January 14, 2004
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This Week:

• World premiere in March 2004 - More performance, more safety, more roadster motoring pleasure: The new Mercedes-Benz SLK-Class

• Lincoln Mark X Concept: A New Statement Of Luxury

• Toyota Stages World Premiere Of All-New Highlander Hybrid SUV At 2004 North American International Auto Show

• Chrysler Introduces New 2005 Crossfire Roadster

• Porsche Vehicle Sales in North America Exceed 30,000 in 2003

• Albrecht Graf Goertz To Celebrate His 90th Birthday

• One millionth vehicle leaves assembly line at FAW-Volkswagen

• GM Reports December Sales of 447,900, Down 9 Percent From Record Year-Ago Levels

• Nissan's European Sales Increased 14.5% In 2003

• PSA Peugeot Citroën Expands Manufacturing Base in China to Increase Production Capacity to 300,000 Vehicles a Year

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PSA Peugeot Citroën Expands Manufacturing Base in China to Increase Production Capacity to 300,000 Vehicles a Year
 

Paris - Jean-Martin Folz, CEO of PSA Peugeot Citroën, and Miao Wei, Chairman of Dong Feng Motors, today announced that production capacity for the Dong Feng Peugeot Citroën Automobiles (DPCA) joint venture will be increased to 300,000 vehicles a year. The company's ambitious product plan will also be pursued, with a brand new Peugeot vehicle to be built on the 307 platform scheduled for launch in the first-half 2004 and the Peugeot 206 to be introduced in 2005. The total cost of the project, which includes doubling the size of the production facility and launching the new vehicles, amounts to roughly €600 million, to be financed entirely out of DPCA's own funds. Mr. Folz and Mr. Miao will lay the cornerstone for the extension of the DPCA plant in Wuhan on January 7. The plant's current production capacity of 150,000 vehicles a year will be increased to 300,000 beginning in second-half 2006.

DPCA is committed to pursuing its product strategy of introducing new Citroën and Peugeot vehicles every year. Following the successful launches of the Citroën Xsara Picasso (2001), Elysée (2002) and Xsara (2003), the first Peugeot vehicle-a new model based on the 307 platform-will be produced in Wuhan this year. This will bring the total number of models manufactured at the plant to six, in line with the objective announced at the agreement signing on October 25, 2002.

The Peugeot 206, Europe's best-selling car in 2001 and 2002, will also be produced locally beginning in 2005, to be followed shortly by other new model launches.

These investments will enable DPCA to continue to increase its local sales, which practically doubled between 2001 and 2003. The joint venture's 2004 unit sales target is 140,000 vehicles. In late 2004, the Wuhan plant's production pace will reach its design capacity of 150,000 vehicles a year in two shifts.

(Jan 06, 2004)