The decline in car sales in European markets led to the fact that the French car holding Peugeot Citroen suffered serious losses in the first half of this year, as was reported in the official press release of the automaker.
The net loss amounted to almost one billion dollars (819 million euros, to be absolutely precise). But in the same period last year, Peugeot Citroen was doing well, and revenues amounted to 806 million euros.
It is reported that car sales in Europe decreased by 15.2%. The reason for this is the general economic downturn in the region. At the same time, sales in Russia increased by 14.7% and in China by 7.5%. But this growth was still not enough, because Europe has always been the main market for Peugeot Citroen.
Measures will be taken to reduce losses. Quite standard for such cases is the closure of unprofitable enterprises and the dismissal of thousands of workers.
It is reported that the general decline in sales was noted by all major automakers.