Peugeot and GM scale back alliance

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PSA Peugeot Citroen is to scale back its alliance with US company General Motors.

Peugeot said a joint small-car programme with GM is likely to be cancelled.

"Further analysis showed that the business model just wasn't there," a Peugeot spokesman said, without elaborating.

That word came as the troubled French carmaker posted a 3.7percent decline in quarterly revenue.

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