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Oct. 28, 2020, 3:06 a.m. EDT

Peugeot revenue falls, expects 25% drop in market

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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.

Write to Kim Richters at kim.richters@wsj.com

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