Peugeot Citroën, Europe's second-largest carmaker, yesterday issued its second profits warning in three months after a 2.7% fall in sales in western Europe last year.
The French group said its operating profits in 2005 would be about €1.94bn (£1.3bn), representing a profit margin of 3.4%. It had already cut its margin forecast from up to 4.5% to below 4% in October.
Boosted by an 8.4% increase in sales outside western Europe, the group sold 3.4m vehicles last year, up 0.4%. It predicted European demand would remain flat but sales overseas would continue to grow.
