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Peugeot Citroen hit by EU crisis

  • Peugeot Citroen reported a sharp decrease in its global sales for 2012 due to "the crisis affecting the European automobile market".

    Sales worldwide dropped 16.5 percent, the French company said on Wednesday.

    The company's sales in Europe slumped 8.6 percent with significant drops in the recession-hit southern European states.

    Sales in Spain were down 14.9 percent last year while in Italy they dropped by 20.9 percent.

    In total, the company sold 2.97 million vehicles globally in 2012 compared to 3.55 million in 2011.

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