Peugeot Pares Gain Made on Outlook: Paris Mover

(Corrects sales outlook in first paragraph.)

PSA Peugeot Citroen (UG) shares pared gains after rising earlier by as much as 5.3 percent in Paris trading.

The company said it expects better end-of-the year sales this year than in the comparable period in 2011 and that its “cash-burn” will end by 2014.

As of 11 a.m. in Paris, the shares were 1.1 percent higher at 6.1 euros.

Peugeot Chief Executive Officer Philippe Varin said at the Paris Motor Show today that the company sees 100 million euros of cash-burn a month at its automotive branch in 2013.

Vice president for brands Frederic Saint-Geours said the company is targeting a 13 percent market share in Europe in 2013.

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.