PSA maintains its R&D spend

摘要

PSA Peugeot Citroen has committed to maintain its R&D spend for this year at €3.5 billion, despite a sharp decline in sales of its vehicles. Priorities for its R&D work will change, however, to focus on more heavily on vehicles with hybrid and electric powertrains.rnPSA expects car sales in Europe to fall by a further 20 per cent in 2009, but to stabilise in 2010. Savings will come from reducing inventory and minimising its cash consumption, rather than engineering cutbacks.