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Groupe PSA reports slight growth
Despite difficult market conditions, the proceeds in the automotive business give the French hope.
Groupe PSA reports slight growth
The Groupe PSA achieved sales of in the third quarter of 202015.453 billion euroscompared to revenues of 15.579 billion euros in the same period last year.
The Revenue in the automobile business amounted to 11.964 billion euros –an increase of 1.2 percent compared to the third quarter of 2019. The positive effects of product mix (+5.8%), price (+1.5%) as well as other effects (+2.7%) and sales to partners (+0.1%) more than compensated for the decline in volume and country mix (-6.8%) as well as the negative effects of exchange rates (-2.1%), driven primarily by the Turkish lira and the Argentine peso.
The group has...589,000 cars sold worldwide in the third quarter of 2020 while continuing to focus on profitability and cash generation.
Theentire inventory including independent dealers and importersAt the end of September there were 428,000 vehiclesand with that26 percent underthe value of theprevious year.
Market outlook: The group expects the automotive market to decline by 25 percent in Europe, 30 percent in Latin America, 20 percent in Russia, and 10 percent in China in 2020.
More operationaloutlook(unchanged): For the period 2019 to 2021, Groupe PSA has set itself the goal of achieving an average recurringoperating margin in the automotive business of more than 4.5 percent to reach.