PSA logs 1.6% jump in revenue in third quarter despite drop of core brand sales

Article by Christian Andrei, on October 23, 2014

PSA/Peugeot-Citroen posted a 1.6-percent jump in group revenues in the third quarter to EUR12.3 billion ($15.6 billion). Its core automotive division, however, logged a slight 0.8-percent dip in revenues in the quarter to EUR7.97 billion at the automotive division, despite a push on pricing. PSA said in a statement that the pricing push "only partially offset” the negative volume and currency effects.

The French carmaker said its group revenues were boosted by gains in Europe and China, which more than offset drops in Latin America and Russia. PSA said it still expects to post a positive operational cash flow by 2016. PSA Chief Financial Officer Jean-Baptiste de Chatillon even remarked that he would be "very disappointed" if the carmaker fails to achieve the goal early as this year.

PSA chief executive Carlos Tavares said in the statement that the carmaker’s “road back to a full recovery” is still long and it should remain “collectively focused on execution." The carmaker managed to log a 5.4-percent jump in global deliveries to 643,600 vehicles in the third quarter of 2014.

It posted a 44-percent surge in China and Southeast Asia and 7 percent in Europe. PSA updated its full-year vehicle-market forecast for Europe to reflect a jump of between 4 percent and 5 percent.

Such growth would be needed to offset sales decline in Russia and Brazil, which are both suffering from economic difficulties. So far this year, PSA’s sales were boosted by demand for the Peugeot 308 hatchback, the Peugeot 2008 crossover and the Citroen C4 Picasso minivan. PSA has forged a partnership with Dongfeng Motor Corp. as part its efforts to expand outside Europe.

Topics: psa, revenue

If you liked the article, share on:


Login or Create new account to add a comment!


Mitsubishi is now officially part of the Renault-Nissan alliance after Nissan took over the Japanese car company recently. We know a lot has been happening in the car industry, but...
by - October 24, 2016
Driving the newest 2017 BMW 5-Series (G30), Clive Owen (Closer, Children of Men) returns to his role as “The Driver”. In this latest installment, what initially starts as a simple...
by - October 24, 2016
Many had wished that a Lamborghini Huracán Superleggera would somehow make a surprise debut at the recently held Paris Motor Show. Sadly, not a single Lamborghini appeared anywhere in sight....
by - October 24, 2016
Aston Martin and Red Bull Racing teamed up for the first time in creating what looks like one of the most ferocious beasts in history. The British car manufacturer has...
by - October 24, 2016
German premium carmaker Audi is reportedly planning to buy back around 25,000 Audi Q7 SUVs powered by its 3.0-liter V6 TDI engine in the United States. The buyback should compensate...
by - October 24, 2016