Confidential.(News)

Folz talks about Iraq

With national economies looking shaky in western Europe, industry pundits are forecasting a flat new-car market or one that will be slightly down this year. The unknown factor, however, is the effect of a possible war against Iraq.

PSA/Peugeot-Citroen Chairman Jean Martin-Folz said the auto industry could be looking at a problem similar in proportion to the oil crisis of the 1970s, in a worst-case scenario.

"It is something of an unknown and like everyone else we are expecting the market to be flat or down by around 2 percent in 2003," Folz ...