PSA Peugeot Citroen expects a difficult year for overall sales in 2010, although its chief executive reiterated expectations for a return to break even on an operating level in the second half of 2009, and positive free cash flow for the full year.
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In an interview with France’s RTL radio, Peugeot CEO Philip Varin said his company will end the year with sales growth in France, helped in large part by government incentives for car owners to scrap old cars and buy new, Dow Jones reported.
He said that in Europe, there will have been a 7% sales decline, which would be better than the 20% drop originally expected.
He said Peugeot is prudent about prospects in 2010, and he couldn’t rule out a fall in sales next year.
