PARIS--French carmaker PSA Peugeot Citroen (UG.FR) said Tuesday
it will ramp up production this year to capitalize on growth in
European markets.
The car maker will raise European production by more than 60,000
vehicles by the end of August, 2015. All the company's brands will
be affected by the increased production.
"Growth in the European market is very good news for the entire
automotive industry, from plants to dealership networks to
suppliers. It's having a real turbo effect on PSA's performance,"
said Denis Martin, the company's operational director for
Europe.
To meet the new production targets, the carmaker will change
work schedules and in some cases hire temporary workers. Peugeot
said agreements signed with employees--particularly in France in
2013--give the company the necessary flexibility to raise
output.
PSA's shares were up 2% at EUR16.86 in early trading in Paris.
Shares in domestic rival Renault SA (RNO.FR) also rose, up 2.5%, at
EUR93.01.
-Write to William Horobin at william.horobin@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires