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Peugeot/Citroen considering a return to the US

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08:30 June 04, 2003)

Peugeot eyes return to US market; stays cautious, however

By AUTOMOTIVE NEWS EUROPE

PARIS - PSA/Peugeot-Citroen SA has studied a return to the U.S. market but is more cautious than ever about such a move, CEO Jean-Martin Folz said.

Speaking at the annual shareholders meeting on Wednesday, May 28, Folz for the first time publicly said PSA has investigated the U.S. market, which the Peugeot brand left in 1992. The company has done in-depth studies of customer expectations, regulations and distribution, he said.

"We haven't decided to go back, and I don't know at all if and when we shall," Folz said.

Folz warned that the economic slowdown and rise in the value of the euro would make it difficult for PSA to meet its 2003 objectives. But so far, he said, PSA's worldwide sales are up 1.7 percent and are consistent with a sales objective of 3,350,000 cars.

He vowed to introduce 26 models between 2003 and 2006 and extend PSA's cooperation policy. By the end of 2006, he said, PSA will derive 20 percent of sales from joint ventures.

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