Peugeot sees tough times ahead

■ PSA Peugeot Citroen, France’s biggest carmaker, forecast a tough second quarter yesterday, saying demand continued to sag in its domestic and core southern European markets, sending first-quarter sales down seven per cent. Revenue fell to €14.3bn (£11.7bn), compared with a forecast for €13.9bn. Sales in its automotive division fell 14 per cent to €9.72bn.