IStock Analyst: Strong Demand for European Cars in Asia and Latin America
Strong Demand for European Cars in Asia and Latin America
Growth in the emerging economies of Asia and Latin America helped to boost sales for Peugeot Citroen after it said the situation in Western Europe was continuing to decline. Europe's second-biggest carmaker yesterday warned of a worsening in Western European car market and forecast a four per cent decline in vehicle sales for the whole of 2008. In view of this, the French company said it was now focused on developing its growth markets - the Mercosur area in south America, China, Russia and Eastern Europe - where it still saw the potential for double-digit growth. Even so, Peugeot, second only to Volkswagen in passenger car sales in Europe, said the economic climate remained tough.
Labels: Car Industry, EU
