Peugeot Citroen maps route for share rebound

Despite its early entry in China, French automaker Peugeot Citroen has failed to grab a significant market share, trailing far behind German and Japanese brands.

But at the ongoing Shanghai auto show the company announced its ambitious goals to sell 540,000 Peugeot and Citroen cars in 2013 and take 5 percent of the world's largest auto market in 2015, mainly by introducing an array of locally made products that cover various segments.

"As the most important overseas market for Peugeot Citroen, China has a pillar role in our strategy," said Philippe Varin, chairman of the Peugeot Citroen Group, during an exclusive interview with China Daily at the show.