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 ...

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