Peugeot to cut cash burn in half in 2013: CEO

Published December 20, 2012

| Reuters

PSA Peugeot Citroen plans to reduce its monthly cash burn excluding restructuring costs by half to 100 million euros ($133 million) next year, Chief Executive Philippe Varin said in an interview published in Le Monde newspaper.

The CEO added that the carmaker was still aiming to break even in terms of operating cash flow by the end of 2014.

Varin added that the company had no new plans to sell assets.

($1 = 0.7542 euros)

(Reporting by James Regan; Editing by Christian Plumb)

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