Mexican Media Brands
PSA’s Net Nearly Doubles in First Half
PSA Group’s consolidated net income in the first half of 2016 surged to a record €1.4 billion ($1.5 billion) from €720 million a year earlier.
#economics
Share
PSA Group’s consolidated net income in the first half of 2016 surged to a record €1.4 billion ($1.5 billion) from €720 million a year earlier.
Operating income zoomed 56% to €1.6 billion ($1.8 billion). Group revenue for the period slipped 1% to €27.8 billion ($30.6 billion). But revenue from automotive operations advanced 3% to €19.2 billion ($21.1 billion).
Vehicles sales in January-June were flat at 1.55 million units. Gains in Europe (+7% to 1.06 million vehicles) and Latin America (+16% to 89,000) were offset by declines in Asia (-19% to 297,000) and the Middle East/Africa (-13% to 87,000).
PSA says it is on track to reduce per-vehicle production costs in Europe by €700 between 2015 and 2018, including €211 saved last year. The company reiterates its goal of achieving an average 4% operating margin on automotive operations in 2016-2018 and 6% by 2021.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Is The V8 Dead?
Tougher fuel economy standards may be the end of most V8s.