Peugeot and Fiat reveal less worse figures

21/10/09 21:02 CET

Cars

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Car sales are improving, but the question remains can that continue without government scrappage schemes?

PSA Peugeot Citroen’s revenues continue to fall but at a slower pace.

Third quarter revenue fell 7.7 percent. That after it dropped 24.9 percent year-on-year fall in the first quarter and 18.9 percent in the second.

The French carmaker’s shares slumped, with analysts calling the figures disappointing.

Meanwhile Fiat’s sales were down 15.9 percent in the third quarter.

It sold 4.3 percent more cars – thanks to government incentive schemes – but fewer trucks, tractors and construction vehicles.

Net profit plunged to 21 million euros from 440 million euros in the same period last year.