When French automakers jumped into China, they thought Chinese consumers’ appetite for French design and luxury goods would translate into booming car sales. That hasn’t been the case.
After several years of growth in China, sales at PSA Group and Renault have dropped sharply. True, the slumping Chinese economy has affected sales at almost every automaker, but Renault and PSA were down 62 percent overall in the first half compared with the same period last year and hold just a 0.7 percent market share.
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