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PSA’s Revenues Climb 8%
PSA Group reports that its revenue grew 8% to €15.4 billion ($17.6 billion) in the third quarter and 29% to €54 billion ($61.5 billion) through the first nine months.
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PSA Group reports that its revenue grew 8% to €15.4 billion ($17.6 billion) in the third quarter and 29% to €54 billion ($61.5 billion) through the first nine months.
The latter figure reflects the impact on year-on-year sales of PSA’s acquisition of Opel/Vauxhall from General Motors Co. in August 2017.
Revenue by Opel/Vauxhall soared 39% to €3.9 billion ($4.4 billion) in January-September. Income from PSA’s carryover brands (Peugeot, Citroen and DS) advanced 1% to €8.5 billion ($9.7 billion) over the same period.
The group’s unit sales in the third quarter fell 17% to 703,000 units as gains in Europe were offset by declines elsewhere. PSA says its suspension of operations in Iran in May accounts for most of the shrinkage. Dealer inventories for the period declined by 29,000 units to 59,000 vehicles.
The company predicts this year’s automotive market will expand 1% in China, 2% in Europe, 3% in Latin America and 10% in Russia.
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