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All tagged Peugeot
◢ French auto giant Groupe PSA, which makes the Citroen and Peugeot brands, reported record vehicle sales Tuesday as the acquisition of General Motors' Opel unit helped offset a sharp downturn in key markets China and Iran. PSA sold 3.88 million vehicles, up 6.8 percent from 2017 when it acquired the Opel business which includes British-based Vauxhall.
◢ Tehran on Saturday urged foreign firms working in Iran to resist US "threats" of sanctions, adding it was in talks with French car makers about staying on in the country. "All (foreign) companies working in Iran should not be intimidated by US threats and should continue their activities in Iran," Industry Minister Mohammad Shariatmadari told a news conference in Tehran.
◢ Most French companies hoping to keep doing business in Iran after the US imposes new sanctions on the country will find it impossible to do so, Finance Minister Bruno Le Maire said Tuesday. These companies "won't be able to stay because they need to be paid for the products they deliver to or build in Iran, and they cannot be paid because there is no sovereign and autonomous European financial institution" capable of shielding them," Le Maire told BFM television.
◢ France's PSA said Monday that it would pull out of two joint ventures to sell its cars in Iran to avoid the risk of US sanctions after Washington decided to withdraw from a key nuclear deal with Tehran. "The group has begun to suspend its joint venture activities, in order to comply with US law by August 6, 2018," the automaker said in a statement.
