French car maker PSA Peugeot Citroen sold 3.6 million vehicles last year – its most ever.
That compares with sales of 3.2 million in 2009.
Chief executive Philippe Varin said that “the economic climate was better than expected.”
The company’s sales were up around 13 percent even as the European market declined five percent.
It is predicting European sales will be little changed in 2011, but believes China and Latin America will continue to grow at a robust pace.
Varin sees the French market contracting by as much as 13 percent this year.