PARIS (Business) – Peugeot maker PSA posted a 15.6% fall in first-quarter sales and forecast sharp declines in auto demand this year because of the coronavirus crisis even though it maintained its mid-term operating margin target.
Peugeot stood at 15.2 billion euros across the group in the January to March quarter.
PSA is currently in the middle of working through an agreed merger with Italy’s Fiat Chrysler. PSA has kept its target for an average adjusted operating target of more than 4.5% for its automotive division over the 2019 to 2021 period.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
