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French automaker Peugeot unveils historic $8.3b loss for 2012

Published on Feb 13, 2013 2:40 PM
 
Embattled French auto giant PSA Peugeot Citroen announced on Wednesday a net loss of five billion euros (S$8.3 billion) for 2012, the worst result in its history. --PHOTO: REUTERS

PARIS (AFP) - Embattled French auto giant PSA Peugeot Citroen announced on Wednesday a net loss of five billion euros (S$8.3 billion) for 2012, the worst result in its history.

Peugeot, France's number one carmaker, blamed the massive loss on a 4.7 billion euro writedown last year and the crisis in the European car market.

Revenue fell 5.2 per cent to 55.4 billion euros.