Crisis effects: Renault shuts down all French factories for a week, Peugeot-Citroen announces massive production decrease

French car producer Renault will shut down all its factories in France for at least a week, in order to adjust its production to the decreasing demand, AFP informs. At the same time, PSA Citroen / Peugeot also announced a massive production decrease and costs cuts.

Renault has factories in Mans, Flins, Cleon, Douai and Sandouville.

Both factories suffer from the international financial crisis, facing a lower demand and stock markets falls.