PSA: negative in the first quarter

PSA: negative in the first quarter

The Groupe PSA achieved sales of 15.179 billion euros in the first quarter of 2020. Compared to sales of 17.976 billion euros in the same period last year, this corresponds to a decrease of 15.6 percent. 
Automotive revenues amounted to 11.934 billion euros - a decrease of 15.7% compared to the first quarter of 2019. The positive impact of product mix (+5.3%), price (+0.5%) and other effects (+3.5%) and sales to partners (+0.1%) partially offset the sharp decline in volume and country mix (-24.6%) as well as the negative impact of foreign exchange rates (-0.5%).
Consolidated global sales fell to 627,000 vehicles in the first quarter back and were influenced by the Covid-19 crisis.

Market outlook: The group expects the automotive market to decline by 25% in Europe, 10% in China, 25% in Latin America and 20% in Russia. The outlook is currently difficult to assess and depends on the extent, duration and geographical scope of the Covid-19 crisis as well as the measures taken by affected countries.

Operational outlook:Groupe PSA has set itself the goal of achieving an average recurring operating margin in the automotive business of more than 4.5% for the period 2019 to 2021.