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PSA denies single structure claim

PSA has dismissed reports that it might adopt a single management structure for its Peugeot and Citroen brands.

Reuters cites a weekly magazine in France as reporting that PSA may pool procurement, promotional activity and overseas units in a bid to save costs.

A spokesman told AM: "I can assure you that this is not a strategy being considered by the company's board."

PSA yesterday announced that its global vehicle sales fell 8.7% in 2008, although it maintained its market share at 5%.

The group said it had managed to keep stocks down to 2007 year-end levels, and as 70% of vehicle sales depended on credit it was imperative for the financial markets to return to normal business. 

In France, PSA is cutting a shift at its Sochaux plant to stem production of its 308 saloon.

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