PSA quarterly revenue declines as sales collapse in Iran and China
PARIS - Peugeot maker PSA Group reported a 1.1 percent decline in revenue, as falling overseas sales outweighed pricing improvements in the first quarter.
Chief Financial Officer Philippe de Rovira said PSA “remains fully focused” on its medium-term performance plan while pursuing the integration of the Opel-Vauxhall business acquired from General Motors in 2017. PSA’s global deliveries have also been hit by a sustained sales collapse at its Chinese joint ventures and the group’s withdrawal last year from Iran.
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