Peugeot Citroen H1 reports euro962 mn loss

PARIS: PSA Peugeot Citroen says it had a euro962 mn ($1.37 bn) net loss in the first half of the year as the global economic crisis continued to ravage car sales.

France's largest auto maker said Wednesday that it expects to have an operating loss this year of between euro1 billion and euro2 billion based on an expectation that the European automotive market will decline by around 12 percent this year

The net loss in the six months through June compares to a euro733 million profit in the same period a year earlier.

Revenues fell 21.8 percent to euro23.497 billion.