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PSA Hikes Third-Quarter Sales, Revenue
PSA Peugeot Citroen increased vehicles sales 5% to 643,600 units in July-August, led by growth in China and Europe of 44% and 7%, respectively.
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PSA Peugeot Citroen increased vehicles sales 5% to 643,600 units in July-August, led by growth in China and Europe of 44% and 7%, respectively. Revenue climbed 2% year on year to €12.3 billion.
PSA's unit sales in the second quarter plunged 38% in Latin America and 62% in Eurasia, roughly three times the contraction of each market. The company hopes to return to breakeven in both regions in 2017.
For the full year, PSA expects overall car markets to expand about 5% in Europe and 10% in China but shrink 10% in Latin America and 15% in Russia.
The company is targeting an operating margin for its automotive operation of 2% by 2018 and 5% by 2019-2023.
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