PSA cuts sales volume and production outlook

Newswire

PARIS, Oct 27 (Reuters) - French car maker PSA Peugeot Citroen expects its sales volume to rise by 1 percent this year, down from a previous expectation of 3 percent, as it declines match price reductions by rivals. Against this background, a PSA Peugeot Citroen finance official said on Thursday that car inventories were too high and that the group had decided to cut production in the second half of this year by 110,000 units to 1,219,000 vehicles. The cost of these cuts are seen at 130 ...

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