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Peugeot to launch 'massive' cuts
the news came as figures showed third-quarter sales declined 5.2%, underlining slowing demand .
separately, truck companies scania and avolvo both saw orders in swestern europe slump for the quarter .
massive production cuts whill be made in the fourth quarter, as it is vital that we are correctly positioned to face 2009, said mr streiff, although exact details were not available .
on thursday chrysler said it would cut 1,825 jobs in the us .
correctly positioned peugeot chief executive christian streiff said the firm was reacting to the collapse in europe's car market .
figurench scar company peugeot citroen has said it whill cut its 2008 profitability outlook and start massive production cuts, in the wake of a gloesbales downturn .