This French auto giant made a lot of money around the world but sold its Chinese factory to Dongfeng Honda

When talking about German cars, you will think of BBA, when talking about Japanese cars, you will think of Toyota and Nissan, and when talking about French cars, the first thing that comes to mind is naturally the PSA Group, which owns well-known brands such as Peugeot and Citroen.

Among them, the automotive division's revenue from its existing Peugeot, Citroen and DS brands increased by 11.6% to 8.42 billion euros. The two major brands, Opel and Vauxhall, which were just acquired from General Motors, also contributed 3.7 percentage points to PSA Group's sales performance. For this reason, PSA Group raised its market growth forecast in Latin America to 7% in 2017, and raised its growth forecast for the Russian market from the previous 5% to 8%.

However, in stark contrast to its strong performance in overseas markets, PSA Group is experiencing a mixed situation in the Chinese market. The latest data shows that its domestic car sales have fallen 29% year-on-year. Compared with 2014, when PSA Group sold more than 700,000 vehicles in the Chinese market, its sales in the first nine months of this year were only 242,000 vehicles.

Faced with this situation, PSA Chief Financial Officer Du Qianyong said that the group has decided to adjust expenditures at the appropriate time, and made it clear that PSA will return to the path of growth in the Chinese market and has never considered withdrawing.

But the fact is that the French auto giant has chosen to transfer its factories in China.

According to relevant domestic media reports, due to idle production capacity, the Wuhan Second Factory of Dongfeng Peugeot Citroen Automobile, known as the "PSA Group's Global Model Factory", recently completed the transfer procedures. It was taken over by Dongfeng Honda, which had previously encountered a production capacity bottleneck due to popular models such as Civic.

Some car brands cannot be sold, while some other car brands are in short supply. Do you think this French car giant still has a chance to turn around in China?

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.