Peugeot-Citroen's First-Half Global Vehicle Sales +0.2% On Year
12 Juli 2011 - 9:11AM
Dow Jones News
French auto maker PSA Peugeot-Citroen (UG.FR) said Tuesday its
global vehicle sales rose 0.2% in the first half of this year,
trailing a 6% rise in the world market.
The company said sales in its core European market fell 5.3% in
the six-month period in a market that declined by 0.8%, resulting
in a reduced market share of 13.9%, compared with 14.2% in the
first half of 2010.
Peugeot-Citroen blamed an unfavorable market mix for the
disappointing European performance, saying the market had felt the
effects of the end of scrapping schemes at the end of 2010.
Traditionally strong markets like France where car sales rose by 2%
showed only weak growth, or plunged like Spain and Italy, which
dropped 25% and 12% respectively. Sales in Germany rose 11%,
however.
Peugeot-Citroen said it was also affected by supply chain issues
resulting from delays in deliveries of electronic components from
producers in Japan that were hit by the consequences of the
earthquake in March. This resulted in longer delivery times for
some of the company's models.
-By David Pearson, Dow Jones Newswires; +331 4017 1740,
david.pearson@dowjones.com
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