Carmaker PSA in reverse as Chinese sales hit a wall
With sales slumping in China and a handful of other markets, Europe now accounts for nearly 9 out of 10 vehicles sold by French carmaker PSA (AFP Photo/SEBASTIEN BOZON)/ French carmaker PSA said Monday its sales slumped in the first half of the year as it pulled out of Iran and sales in China plunged by nearly two-thirds. Half of the overall 12.8 percent drop in sales by the maker of Peugeot, Citroen, DS, Opel and Vauxhall brands to 1.9 million vehicles was due to halting operations in Iran to avoid falling foul of US sanctions on the ...
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