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PSA Revenue Slides 4%
PSA Peugeot Citroen reports that its group revenue declined nearly 4% to €12.1 billion in the third quarter.
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PSA Peugeot Citroen reports that its group revenue declined nearly 4% to €12.1 billion in the third quarter. Automotive-related revenue fell 6%.
The company expects this year's overall European and Russian auto markets to shrink 4% and 7%, respectively. But it says markets will expand 14% in China and 2% in Latin America.
PSA's Automotive Division posted third-quarter revenue of €5.5 billion compared with €6.1 billion a year earlier. The company blames a 7% drop in vehicle sales outside China and a 5% negative swing in currency exchange rates for the Brazilian real, British pounds and Russian ruble.
The group's auto sales in China surged 29% to 403,000 units in January-September.
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