Peugeot slashes 1007 production.(Brief Article)

Automotive News Europe,  November, 2005  by Saint-Seine, Sylviane de

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Byline: Sylviane de Saint-Seine

Peugeot is slashing production of the 1007 just six months after its launch because sales for the premium-priced small minivan are far below expectations.

PSA/Peugeot-Citroen will cut 1007 production capacity at its Poissy plant near Paris to 70,000 units a year, far less than the 130,000 goal when Peugeot launched it April 18.

Additionally, PSA will lay off 550 temporary workers by year-end and move 150 workers to other jobs.

"One of the 1007's problems is pricing and the fact it is a new segment," a Peugeot spokesman said.

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