French carmaker PSA Peugeot Citroen is working on two new models for emerging countries as it seeks to break out of its dependence on mature markets.

Europe’s second-largest carmaker in November outlined a plan to boost profitability that
included new models for 2010-2013 targeting emerging markets it wants to focus on as mature markets stagnate.

The group eventually wants an eight per cent share of the Chinese market, compared with
3.5 per cent last year, said a report in our sister publication, the Gulf Daily News.

French paper Les Echos had reported that two new models – an entry-level small car known internally as “global small” and a mid-sized sedan known as “M3-M4” – were not among the models announced in November.

A PSA spokesman confirmed the group was working on two new models for emerging countries.

The group last month announced that it would invest around one billion euros ($1.24 billion) at its Vigo site in Spain over five years, and said it would build a “core range” model there.

Japanese partner Mitsubishi is leading the development of the small car that would be sold in several continents and could be produced in Japan, Thailand, India, Latin America or China. – TradeArabia News Service