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Peugeot Citroen 3rd quarter sales slump

Peugeot Citroen 3rd quarter sales slump 3.7 percent as European woes continue

Peugeot Citroen 3rd quarter sales slump

PARIS (AP) -- PSA Peugeot Citroen says its revenue continued to fall in the third quarter as shrinking European car markets and production disruptions by workers upset at a planned factory closure hurt the French automaker.

The maker of the Peugeot 208, Citroen C4 and other hatchbacks and sedans said its revenue for the July-September period slumped 3.7 percent to 12.1 billion euros ($16.7 billion). Peugeot Citroen's automobile division sales fell 5.8 percent to 8 billion euros.

In a statement Wednesday the company blamed weak European markets as well as disruption to its C3 production line at a factory near Paris slated for closure. The company is in the midst of plans to shut factories and shed up to 8,000 jobs.


Updated : 2021-03-07 14:34 GMT+08:00