Shanghai, November 7 (Gasgoo.com) Dongfeng Peugeot Citroen Automobile Co., Ltd. (DPCA) said it has cut this year's sales target to 200,000 units from the original target of 280,000 as sales fall, and has laid off 1,000 employees, state media Xinhua news agency reported today.
The joint venture automaker says it will cut sales target for cars of Citroen and Peugeot brands each by 40,000 units. Latest data shows the company sold just 140,900 units in the first nine months, down 4.6 percent from last year's level.
The joint venture between PSA Peugeot and Dongfeng Motor also confirmed yesterday it has not continued to employ 1,000 contract workers from a total of about 9,000 staff.
"The workers were mainly on short-term contracts, which weren't renewed from November 1," a company spokesman said. "It's normal for the industry to adjust manpower pertaining to sales conditions. When the sales go up again, we'll hire those workers back."
The company said it will too scale down output of relevant models and launch several new models including the Elysee hatchback and a compact A-segment sedan next year to boost sales.
