The biggest French car company PSA Peugeot Citroen announced that a loss of 1.16 billion euros after tax last year. Leadership expected to come out of operating profit in the first half of 2010, although the company will face serious challenges over the next few years forward Financial Times. The largest of them will be shrinking car market in Europe, according to the French group for the production of cars will fall by around 9% this year. To overcome this, Peugeot Citroen plans to market a new model by which to increase its market share. The net loss for the French company has tripled in comparison to the negative financial result of 363 million euros for 2008, its sales decreased by 7.2% yoy in 2009, which forced the company to seek more than 3 billion . EUR rescue assistance from the French state last year. The negative financial result of the first half of last year was positive in the second half thanks to government programs worldwide, including France, to stimulate purchases of new cars. Peugeot Citroen has a positive net cash flow In 809 million euros for 2009. Leadership trusts that the successful implementation of the plan for sales management, cost reduction and better utilization of capacity will support the company’s financial performance this year, along with the launch of new models on the market. Our presentation of the financial unit Banque PSA Finance also contribute to profit in the first half.
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