Citroen says Iran launch went well, strategy unchanged for now

PARIS (Reuters) - French carmaker PSA Group launched its Citroen C3 model in Iran last week despite Washington’s withdrawal from the nuclear agreement with Tehran, brand chief Linda Jackson said on Thursday.

PSA, the maker of Peugeot and Citroen cars, sold 2,000 C3 subcompacts in one hour on launch day, Jackson said, adding that the group’s strategy in Iran had not changed in the wake of the U.S. decision to exit the nuclear agreement and reimpose sanctions.

But PSA remains “cautious” about the future of its Iran business, Jackson said, while waiting for the European Union to take a clear position on U.S. sanctions and trade prospects.

Reporting by Gilles Guillaume and Laurence Frost; editing by Jason Neely