PARIS (AP) -- France's largest carmaker, PS Peugeot-Citroen, will stick to its target of selling 4 million vehicles by 2010, despite a tough auto market, the company's chief executive said Thursday.
The goal is part of a turnaround program known as CAP 2010, launched last year to restore Peugeot-Citroen's sagging profitability and regain market share.
"In an economic climate much tougher than forecast when working out the plan, I am sticking to our objectives," CEO Christian Streiff said at the Paris Auto Show.
"We now have just over two years to succeed."
Peugeot-Citroen said it is well positioned, thanks to a large range of energy-efficient and low-emissions vehicles. Streiff said 50 percent of Peugeot-Citroen's sales in Western Europe in the first half of the year were for vehicles emitting less than 140 grams of CO2.
The carmaker also presented a new diesel-electric hybrid engine -- with a rear-mounted electric motor that drives the rear wheels while the diesel engine runs the front wheels -- to be fitted on mid-sized and executive models from 2011.