Sanctions won’t affect Peugeot activities: CEO

October 18, 2010

TEHRAN, Oct. 17 (MNA) -– The restrictions imposed on Iran by the West will have no impact on Peugeot’s relations with Tehran, said Jean-Marc Gales, Executive Vice President and Member of the Managing Board of PSA Peugeot Citroen.

He said Iran constitutes 20 percent of Peugeot’s global sales and Iranian customers are more satisfied with their Peugeot sedans compared to other countries and for these reasons the Islamic Republic is a very important market for Peugeot, Moj news agency reported.
“We will proudly continue as before to do business with our Iranian partner,” he claimed.
Gales underscored the Iranian automotive spare part manufacturers’ capacity and called for fostering ties between Peugeot and them and gaining a bigger share of the global market.
He also called for increasing the export of cars through Iran to other markets and referred to the global economic meltdown and stated, “This crisis mostly troubled the U.S. and Europe and countries like Iran had no problem in this regard.”
“For this reason Iran’s potential in the global market is significant and we would be content to expand our global market in the framework of enhancing our partnership,” he said.
“Peugeot and Iran Khodro Group’s 20-year partnership has been instrumental in increasing profit and market share for the two sides,” he stated.