Peugeot halts Slovak output on weak demand
January 28, 2013 10:28 PM EST
France's carmaker PSA Peugeot Citroen
Peugeot, which is cutting some 10,000 jobs and closing a domestic plant in France, is one of the key exporters in the central European country where growth is driven almost solely by the automotive production.
The carmaker, operating an assembly plant in the western Slovak town of Trnava where it makes the Peugeot 207 and Citroen C3 Picasso models, still expects production in Slovakia this year to exceed the 2012 output of almost 215,000 cars.
"Demand for new cars in Europe is continuously falling. Decreasing trends in sales transform into production cuts by several carmakers," PSA Peugeot Citroen Slovakia wrote in an emailed statement.
The Trnava plant has an annual production capacity of 300,000 vehicles.
The euro zone country's automotive industry is centered around assembly plants of Germany's Volkswagen
Any production disruption in the sector could have a significant impact on the economy's performance, expected by the finance ministry to slow its expansion to 2.1 percent in 2013 from 2.5 percent this year on waning demand for its exports.
(Reporting by Martin Santa; Editing by Mike Nesbit)
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- More Bad News for Android 5.0 Lollipop As Problems Come In for Nexus and Other Devices
- BlackBerry Classic (aka Q20) Keyboard Shortcuts Explained In A Quick Video
- US To Supply Defensive Lethal Weapons To Kiev – A Vey Alarming Signal, Says Russia
- Amazon Black Friday 2014 Deals Start On Nov. 21, 2014 Including Limited-Time Lightning Deals And Deals Of The Day On Clothes, Toys, Jewelry, Watches, Bags, Accessories And Electronics