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.
- Special Report: Paris Motor Show 2012
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.
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