RUSSIA: PSA 9-month sales soar

28 October 2008 | Source: just-auto.com editorial team

PSA Peugeot Citroen sales in Russia rose 62.3% year on  year to 44,947 cars in the January-September period.

Sales rose 59.9% to 18,956 cars in the July-September quarter, the company said in a statement cited by the Prime-Tass news agency.

Announcing "drastic" fourth quarter cutbacks last week, PSA said eastern Europe started to slow in the third quarter with a decline of nearly 2% after a buoyant first half.

Growth for the first nine months was 5.8% and market share 11.1%.

The booming Russian market grew 24.9% in the first nine months but slowed to 12% in Q3. PSA registrations were up 65% in Q3 and 63.2% for the first nine months a French statement said.