French carmaker PSA to cut capex, production costs

Newswire

By Marcel Michelson PARIS, Sept 26 (Reuters) - French carmaker PSA Peugeot-Citroen announced new cost-savings measures on Tuesday as it tries to improve eroding profit margins after three earnings warnings in little more than a year. Outgoing Chief Executive Jean-Martin Folz announced the measures as the group said its declining market share in Europe was a "genuine source of concern" due to the relatively advanced average age of its model line-up and an increase in competition. PSA's ...

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