US Sanctions Slash PSA’s MENA Sales

PSA Group’s sales in the Middle East and North Africa plunged 68.4% in the first half of 2019, punished by the automaker’s forced withdrawal from Iran under the threat of US sanctions.
According to data published by the automotive group on Monday, PSA Group, maker of Peugeot and Citroen cars, sold 71,600 vehicles in the MENA region in the first half of 2019, down 68.4% compared to 226,100 units.
The figures were significantly higher in 2017 and amounted to 277,931 units.
In July 2018, the French automotive giant reported, “In line with the group’s decision to initiate the process of suspending its operations in Iran, vehicles manufactured in Iran are no longer included in consolidated global sales, as of May 1, 2018.”