French car maker PSA Peugeot Citroen (PEUGF.PK) reported that its first-quarter Consolidated Revenues declined 6.5% to 13.02 billion euros from the prior year's 13.93 billion euros.
Automotive Division revenues declined by 10.3% in the first quarter of 2013 to 8.722 billion euros from 9.719 billion euros in the year-earlier period. E xcluding CKDs, worldwide sales stood at 674,000 vehicles, down 2.5%, (total sales amounted to 675,000 vehicles, down 14.6%). This reflects volumes contractions of 16.9% in Europe and 26.7% in Russia, partially offset by a 31.1% growth in unit sales in China, Latin America and the rest of the world.
For the full year, the Group expects that automobile demand to contract by around 5% in the Europe 30 region, to grow by around 8% in China, 2% in Latin America and stable in Russia.
The company said it is continuing to deploy its Rebound 2015 plan designed to restore the profitability of Automotive Division in Europe.
The company confirmed its objective of halving its operational cash consumption in 2013. In the event that 2014 European market environment could be worse than previously expected, operational initiatives to offset such potential deterioration are under review to maintain the company's objective of restoring breakeven in Group operational free cash flow by end 2014.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.