Peugeot sales fall on account of European financial crisis

<p>Shares in Peugeot have dropped as European demand wanes on account of the financial crisis.</p>

Shares in Peugeot have fallen in Paris this morning (January 9th) after the carmaker reported that its global sales figures dropped sharply on account of the weak European economy.

The company claimed "the crisis affecting the European automobile market" was to blame for its 16.5 per cent fall in worldwide demand, with its continental market sales slowing by 8.6 per cent.

Over the course of 2012,  Peugeot sold 2.9 million vehicles internationally, but this is a significant drop from the previous year's 3.5 million.

In its home nation of France, purchases decreased by 13.3 per cent, while in Spain and Italy sales plunged by 14.9 per cent and 20.9 per cent respectively.

However, it did see demand increase in some markets including Russia (10.1 per cent), China (7.2 per cent) and Latin America (5.6 per cent).

At 10:00 GMT, shares in Peugeot slipped by 1.8 per cent to €6.10 per unit.

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