Peugeot-Citroen announce 'massive' production cuts

PSA Peugeot-Citroen today slashed its full-year targets and announced “massive” production cuts after third-quarter revenue shrank by 5.2%.

Fri, 24 Oct, 2008 - 08:53

PSA Peugeot-Citroen today slashed its full-year targets and announced “massive” production cuts after third-quarter revenue shrank by 5.2%.

The French car maker said that sales in the previous three months fell to €13.3bn from €14.02bn as the financial crisis hit auto sales in Europe and slowed growth elsewhere.

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