MILAN, Oct 24 (Reuters) - French car maker PSA Peugeot-Citroen could see an operating loss of between 1-1.5 billion euros this year, Chief Executive Philippe Varin told an Italian newspaper, narrowing an earlier forecast.
'Between 1 and 1.5 billion euros,' Varin was quoted as saying by Il Sole 24 Ore on Saturday in relation to the year's operating loss.
He added that the company aimed to be in the black in 2010, but cautioned that 'it's an objective, not a forecast'.
Last month, Varin said he was sticking to a forecast of an operating loss for 2009 of between 1 and 2 billion euros, with the goal of being at the better end of the range.
Peugeot-Citroen said on Oct. 21 that third-quarter revenues were down 7.7 percent, a smaller decline than in previous quarters.
Varin added that the company would focus on strengthening its presence in markets such as China and South America. 'Launching in new markets is not under discussion,' he added.
He said Peugeot had decided to deepen its cooperation with Germany's BMW. 'Above and beyond diesel engines, we are also thinking of agreements on components and purchasing,' Varin said.
(Reporting by Jo Winterbottom; Editing by Sugita Katyal) Keywords: PEUGEOT/REPORT (jo.winterbottom@thomsonreuters.com; +39 02 66129 442; Reuters messaging: jo.winterbottom.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Between 1 and 1.5 billion euros,' Varin was quoted as saying by Il Sole 24 Ore on Saturday in relation to the year's operating loss.
He added that the company aimed to be in the black in 2010, but cautioned that 'it's an objective, not a forecast'.
Last month, Varin said he was sticking to a forecast of an operating loss for 2009 of between 1 and 2 billion euros, with the goal of being at the better end of the range.
Peugeot-Citroen said on Oct. 21 that third-quarter revenues were down 7.7 percent, a smaller decline than in previous quarters.
Varin added that the company would focus on strengthening its presence in markets such as China and South America. 'Launching in new markets is not under discussion,' he added.
He said Peugeot had decided to deepen its cooperation with Germany's BMW. 'Above and beyond diesel engines, we are also thinking of agreements on components and purchasing,' Varin said.
(Reporting by Jo Winterbottom; Editing by Sugita Katyal) Keywords: PEUGEOT/REPORT (jo.winterbottom@thomsonreuters.com; +39 02 66129 442; Reuters messaging: jo.winterbottom.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
