UPDATE 1-PSA targets 8 pct of China market by 2016

Newswire

* PSA had 3.4 pct mkt share in China last year * Launching new 408 in China * Peugeot brand to grow sales 30 pct in China in 2010 (Adds quotes, further detail, background) PARIS, Jan 25 (Reuters) - French carmaker PSA Peugeot Citroen wants to win 8 percent of the booming Chinese car market by 2016, a senior executive said on Monday, as the group launched Peugeot's new 408 car in Beijing. Western carmakers, battered by a deep industry crisis, are relying on emerging markets for growth ...

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