Reporting "Asre Khodro",Revenue for the three months ended Sept. 30 fell to 11.4 billion euros ($12.41 billion) from EUR12 billion in the same three months last year. New car sales in the third quarter dropped 17% in China and 4.3% in Europe, where the company is second in market share behind only Volkswagen AG (VOW.XE).
The negative effect of the exchange rates was partially offset by higher pricing, a keystone of the company's industrial plan.
A strong showing in Africa and the Middle East, where Peugeot's car sales more than tripled, helped offset the drop elsewhere. Peugeot has been boosting production in Iran, which is reestablishing its auto industry as relations improve with the West. The company's consolidated worldwide sales by number of vehicles rose 11%.
Peugeot said it sees the overall car market growing this year about 6% in Europe and 15% in China, a forecast in line with most other auto makers and analysts. The company sees the market shrinking 15% in Russia and 6% in Latin America.
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