July and August were ‘bad’ months for PSA Peugeot Citroen and the result for the full financial year will largely depend on the evolution of sales in west Europe, chief executive Jean-Martin Folz told Reuters on Thursday.

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“I have the sales results for July and August and they were bad. For the second half the sales for September and October are very important but I do not have the details yet. For the full year result much will depend on our sales in Europe,” he told the news agency, adding that the company aimed to boost its sales outside of Europe.


He reportedly said the market share of PSA in Europe had declined to 13.8% while it had previously been above 14%.


Reuters noted that, faced with a three-year decline in market share, PSA on Tuesday announced a new cost-savings plan and said it would accelerate new car launches to reduce the average age of its model line-up including three new models.


Folz reportedly declined to give details of these models but said PSA was looking at various opportunities.

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The group, which claims a low fuel use in cars, will also launch an [SUV] with Mitsubishi Motors, Reuters added. Folz said these were expected to sell at a rate of some 30,000 vehicles per year and would not change the overall fuel economies of the company.


Folz reportedly declined to give any indication for the 2006 results and said that the outlook for 2007 would be for his successor to announce.


He had said earlier this month that he would retire early next year, when he turns 60, Reuters noted.