Quantcast
Latest Stories

Peugeot says worldwide sales plummet 16.5% in 2012



French auto giant PSA Peugeot Citroen’s worldwide sales in 2012 dropped by 16.5 percent in 2012 due to contracting demand in debt-crippled southern Europe and the suspension of its activities in Iran, it said in a statement on Wednesday, Jan. 9, 2013. AFP PHOTO/JOEL SAGET

PARIS—French auto giant PSA Peugeot Citroen said that global sales plunged by 16.5 percent in 2012 owing to contracting demand in debt-crippled southern Europe and the suspension of its activities in Iran.

“PSA Peugeot Citroen recorded worldwide unit sales of 2,820,000 assembled vehicles, down 8.8 percent. Together, sales of assembled vehicles and CKD (completely knocked down) units totalled 2,965,000, down 16.5 percent,” the group said in a statement on Wednesday.

Peugeot Citroen, Europe’s second-biggest carmaker, said the economic crisis in Europe explained its poor results.

“Southern Europe, where PSA Peugeot Citroen has a particularly large presence, was hit hardest, with the market down 13.3 percent in France, 14.9 percent in Spain and 20.9 percent in Italy,” it said.

Its decision to pull out of Iran early last year also affected group results.

“The decision to suspend sales of CKD units in Iran as from February in compliance with international regulations, which made it impossible to finance Iran-bound sales due to tighter international sanctions, also impacted Group sales in 2012,” PSA said.

The carmaker had sold 457,900 CKD units in Iran in 2011.

Peugeot’s decision to suspend business in Iran was to comply with international sanctions against the Islamic republic over its nuclear program.

France also came under intense pressure from Washington lobbies to shut down its thriving operations in Iran after US auto giant General Motors acquired a 7.0-percent shareholding in PSA.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: auto , company , Earnings , France , Peugeot

  • Diablo_III

    Sa Cagayan de Oro, all is well for the opening of Peugeot showroom..

  • dprotector

    The Philippines should develop its own brand of car just like any industrialised country such as US, Japan, France, Britain etc, It is a good job creator that is why these countries protect it.

  • JunPyo123

    And Peugeot Citroen is opening branches in PH this year. In fact, some of their cars are already in the country and was displayed during last year’s auto shows. 



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Malaysia, Flight 370 relatives talk financial help
  • Celebrating Easter and creativity in New York
  • Man wins half marathon, dies in Argentina
  • Clouds to bring slight relief from summer heat
  • Canadians rally to legalize marijuana
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Unmerry mix of attention-calling moves on ‘Mini-Me’ TV tilts
  • Persistence pays off for The 1975
  • Business

  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Bourse to woo Cebu stock mart investors
  • Supper power
  • Technology

  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • OFW died of Mers-CoV in Saudi Arabia, says family
  • Marketplace