Audi, Peugeot raised operating income goal as emerging markets boost sales

Article by Christian A., on October 20, 2010

Indicating just how much carmakers depend on emerging markets -- PSA/Peugeot-Citroen was able to raise its operating income goal on rapid sales in new markets and Audi just hit the mark of having sold one million cars in China.

As soon as scrappage schemes expired, European carmakers have turned to markets in Asia and Latin America and this has propped up demand.

During PSA’s third-quarter sales report, the carmaker revealed more optimistic forecasts for the European, Chinese and Latin American markets.

PSA disclosed a 10% increase in sales during the third quarter and also that it lifted its profit target. PSA said that this means that full-year recurring operating income would now surpass its previous target of 1.5 billion euros ($2.09 billion).

PSA said that it anticipates a nearly 20% growth in the Chinese car market whereas before, it had simply predicted a double-digit growth.

PSA asserted that the European market will decrease by about 5% in 2010, against its previous forecast of a 7% drop. It also said that it expects growth in Latin America at close to 10% for the entire year. [via autonews - sub. required]

Topics: audi, peugeot, sales

If you liked the article, share on:

Comments

Recommended

When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries