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Car firms show up in droves (3)

By Li Fangfang (China Daily)

11:12, November 23, 2012

A visitor experiences a car during the press day of the 10th China (Guangzhou) International Automobile Exhibition in Guangzhou, capital of south China's Guangdong Province, Nov. 22, 2012. The exhibition is expected to be held from Nov. 23 to Dec. 2, 2012. (Xinhua/Chen Yehua)

IHS estimates that Hyundai is likely to see sales of 967,000 vehicles in 2013 in China, rising from 786,688 in 2011 - significantly boosted at the expense of lost Japanese sales.

French brand Peugeot Citroen, added IHS, is using the show to launch its new, locally produced sport utility vehicle, the Peugeot 3008, through local joint venture Dongfeng Peugeot Citroen Automobile.

The SUV focus is timely. This week a new forecast from McKinsey & Co suggested that in the next decade, car sales in China are expected to rise by 8 percent annually for the next decade, likely to be driven by SUV sales, especially in second- and third-tier cities.

"Peugeot Citroen aims to win market share from Japanese brands in the SUV segment with the release of this new model," said Chow.

"Peugeot-branded models in China will see sales increase to more than 240,000 units in 2013, up from around 174,210 in 2011."

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