PSA Peugeot Citroën incurred the biggest loss in its history!

The French Group announced a massive net loss of five billion Euros for 2012; nonetheless, it hopes to restore its financial stability in the coming years.

PSA Peugeot-Citroen relies on its alliance with General Motors and on an increase in the deliveries to markets outside Europe and strives to meet its target of generating 50% of sales in these markets by 2015. In 2013 PSA Peugeot Citroën plans to reduce the losses as much as possible, the target being of 50% as compared to 2012.

PSA reported a 576 million euro operating loss for 2012, compared with the operating profit of 1.09 billion euro a year earlier. Christian Lafaye, leader of the FO labor union at PSA, said on January 31 that the company is losing 7 million Euros per day. The PSA representatives said that 2015 will mark their return to profitability.