Carmaker PSA's sales decline on emerging-market slump

FILE PHOTO: A PSA Group logo is seen behind a car displayed during French carmaker's news conference as they announce the company's 2018 results at their headquarters in Rueil-Malmaison, near Paris, France, February 26, 2019. REUTERS/Christian Hartmann - Copyright CHRISTIAN HARTMANN(Reuters)

By Reuters

Published on 15/07/2019 - 09:04•Updated 20/04/2024 - 12:35

Comments

PARIS (Reuters) - French carmaker PSA Group <PEUP.PA> said its vehicle sales fell 12.8% in the first half as weakening emerging markets weighed heavily on overseas operations.

Sales fell to 1.9 million light vehicles in January-June, the Peugeot maker said on Monday, from 2.18 million a year earlier.

While eking out a 0.3% gain in Europe, its biggest market by far, PSA suffered sharp declines almost everywhere else, with China sales slumping a further 60.6% and Latin America down 29.3%, the company said.

(Reporting by Laurence Frost; Editing by Sudip Kar-Gupta)

Comments