By Kim Richters
Peugeot SA said Wednesday that revenue fell in the third quarter and that it expects the car market in Europe to decline by 25% this year.
Revenue fell to 15.45 billion euros ($18.23 billion) from EUR15.58 billion a year earlier, the French auto maker said.
Its latest product launches and pricing policy helped offset volumes decrease and negative exchange-rate effects, it said.
The group said it expects automotive markets to decline 25% in Europe. It also forecasts a decline of 30% in Latin America, 10% in China and 20% in Russia.
Peugeot confirmed that it targets an adjusted operating margin for its automotive division of more than 4.5% on average for the years 2019 to 2021.
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