Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.