Peugeot Citroen said today its sales slumped in the first quarter as Europe's recession-hit markets caused car sales to collapse across the region's southern flank.
The Paris-based car maker says it made 15.4 billion euros (£12.6 billion) in the first quarter, down 7% from a year earlier.
The car maker blamed the collapse of markets in southern Europe for the weak quarterly performance.
Peugeot Citroen sales contracted 20% across all of Europe, with falls of 19.4% in France and 22.4% in Italy.
In a statement the company said it expected the European market to be down by about 5% over the full year, and by about 10% in France.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies