Both Renault and PSA Peugeot Citroen will today pay - early - one third of the EUR3bn government loans advanced to them in April 2009 to help them through the financial crisis.

Each company said in a brief statement it would repay EUR1bn. PSA added it would make the reimbursement "out of existing liquidity resources, permitting the group to reduce gross debt and to realise significant interest expense savings".