PSA 'cautious' about Iran business after successful Citroen C3 launch

PSA sold 2,000 C3 subcompacts in one hour on the first day of sales in Iran.

PARIS -- PSA Group launched its Citroen C3 model in Iran last week despite Washington's withdrawal from the nuclear agreement with Tehran.

PSA sold 2,000 C3 subcompacts in one hour on launch day, Cítroen CEO Linda Jackson said, adding that the group's strategy in Iran had not changed in the wake of the U.S. decision to exit the nuclear agreement and reimpose sanctions.

PSA remains "cautious" about the future of its Iran business, Jackson said, while waiting for the European Union to take a clear position on U.S. sanctions and trade prospects.