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Peugeot sales beat European gloom
PARIS, France (CNN) -- PSA Peugeot Citroen has announced a 4.3 percent rise in sales for 2002, even though sales across Europe fell. The French company, under chairman Jean-Martin Folz, continued to consolidate its No. 2 position in Europe behind Volkswagen as it rolled out a series of new models like the Peugeot 307 and the bubble-shaped Citroen C3, figures on Tuesday revealed. European car sales fell more than 3 percent in 2002 as faltering economies rattled consumers. They are expected to decline again this year. "Faced with restrained economic growth in Europe, PSA anticipates a zero to two percent decline in the European car market in 2003,'' Peugeot said in a statement. Its sales of cars and light commercial vehicles rose to 3.267 million units from 3.133 in 2001, beating its own target of 3.25 million as global demand shrank by 0.6 percent. It plans to sell 3.35 million vehicles in 2003. Volkswagen's woesIts bigger rival Volkswagen sold 1.9 percent fewer cars in 2002 because of its aging Golf and Passat models. VW Chief Executive Bernd Pischetsrieder says he is confident about the company's prospects in 2003 as it launches new models, like an updated Golf and the Touran multi-purpose vehicle. "Bullish would be the wrong word but I am confident (about earnings and sales in 2003)," said Pischetsrieder at the Detroit motor show. Volkswagen's fellow German manufacturers, BMW and DaimlerChrysler's Mercedes, said they were optimistic about their sales this year despite economic weakness and stagnant demand. BMW beats Mercedes
BMW sales rose 17 percent to 1.057 million vehicles in 2003, thanks largely to its award-winning Mini. Its U.S. sales rose 20 percent to 256,6000, with the X5 sports utility also strong. Mercedes fared less well in 2002 with sales of 1.23 million vehicles -- more or less flat compared with 2001. Mercedes chief Juergen Hubbert told Reuters he aimed this year to at least match 2002 sales. "There is certainly the possibility of matching our sales if nothing terrible happens," he told Reuters. "There are some potential difficulties ... depending on whether there is a war (in Iraq) or not, but if everything goes well, we will probably stay at about 2002's level globally."
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