PSA Peugeot Citroen group record a record 50 billion euros ($67 billion), the euro after loss last year, the European car market shrinkage cavity forced France's largest automaker reservation ?30 billion dollars financial costs.
Due to demand falls, led to a 12.4% slump in new car sales ?2.78 billion us dollars, the paris-based company counter iron and steel and other materials cost rise. After the merger, their ?150 million dollars car manufacturing sector to years of operating losses.
The chief executive Philip waring said loss "reflects the automobile industry in Europe the deterioration of the environment."
Last year the European car market has shrunk 8.2% to its lowest level since 1995, according to the headquarters in Brussels car industry organization ACEA. The French car market in 2012 dropped 13.9%.
Is suffering from a recession deepened in many markets, its main market in Europe, this makes two-thirds of the French car, Peugeot Citroen. In the past year, the company's share price has sunk nearly 60%.
Peugeot trouble, it is close to 100 million dollars in damage, it in the first half of this year recorded signal, caused the attention from all walks of life, the highest level in the French government. Last week the public budget minister floating government shares in the Peugeot's idea, but the idea immediately hits the finance minister.



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