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Peugeot Citroen Predicts Further Decline in European Auto Market

PSA Peugeot Citroen, Europe’s second-largest carmaker, predicted that the region’s auto market will continue to decline in the wake of the sovereign-debt crisis after its car sales on the continent slipped in 2011.

Peugeot sold 6.1 percent fewer vehicles in Europe last year and its market share fell 0.9 points to 13.3 percent as the 207 model “came under stiff competition,” the Paris-based carmaker said today in a statement. Peugeot’s worldwide sales declined 1.5 percent to 3.5 million vehicles even as the auto market expanded by 3 percent, it said.