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UPDATE 1-PSA reiterates market forecast despite tough year start
March 5, 2013 / 8:41 AM / 5 years ago

UPDATE 1-PSA reiterates market forecast despite tough year start

* Sees European auto sales down 3-5 pct in 2013

* Chasing 200,000 annual sales of mini-SUV by 2015 (Adds mini-SUV forecast, pricing)

GENEVA, March 5 (Reuters) - PSA Peugeot Citroen is sticking by its full-year market forecast despite a difficult start to the year, while pricing remains under pressure, brands chief Frederic Saint-Geours said on Tuesday.

European auto sales are expected to fall between 3 and 5 percent in 2013, the no. 2 Peugeot executive told reporters at the Geneva auto show, with discounting still undermining industry revenues and profitability.

“The pressure is not letting up,” Saint-Geours said, adding that Peugeot nonetheless exceeded its 13 percent full-year market share goal in the first two months.

Peugeot is pursuing 200,000 annual sales of its 2008 mini-SUV unveiled in Geneva, aiming to reach the goal in 2015, he added. Pricing will start around 15,000 euros, he said.

Reporting by Laurence Frost, Gilles Guillaume; editing by Tim Hepher

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