PSA/Peugeot-Citroen posted a 27.5 percent rise in first-quarter revenues

Article by Christian A., on August 26, 2010

On Wednesday, PSA/Peugeot-Citroen posted a 27.5% rise in first-quarter revenues. Sales were recorded at over 14 billion euros ($18.84 billion), exceeding expectations.

Signs of an upturn were also seen in the European light vehicle market. As a result, the outlook was raised for first-half recurrent operating profit to "significant" from "positive."

In a statement, CEO Philippe Varin said that he is "very confident" about its sales and marketing momentum.

He said that "the deployment of the performance plan will enable the group to limit the impact of a business environment that risks being difficult in Europe in the second half."

For 2010, PSA expects the automotive markets to drop by about 9% but its market share is seen to continue to rise as new models such as the Citroen DS3 and Peugeot RCZ arrive.

PSA has plans to skip a dividend for 2009 when it posted its biggest net loss in 20 years. Carmakers anticipate that there would be a fall-out in the second half of 2010 as government scrapping incentive schemes that had boosted sales in major markets start to diminish. For the first quarter, car sales in Europe rose by 9.2%.

Topics: psa, peugeot, citroen

If you liked the article, share on:

Comments

Recommended

Skoda recently launched the new Karoq compact SUV as a replacement model to its now-defunct Yeti small crossover. Slotted below the newly introduced Skoda Kodiaq, the new Karoq features a...
by - May 23, 2017
There are already rumors suggesting that the next generation BMW 5-Series GT is expected to be joining the 6-Series range. The latest reports instead tell us that that 3-Series GT...
by - May 23, 2017
In 2004, the British marque Rolls-Royce officially entered South Korea with the opening of their showroom located in Seoul before opening their second showroom last September in Busan. Now RR...
by - May 23, 2017
In a game-changing move, Ford has revealed that it will soon produce its first ever all-electric CUV that will be built to be electric from the ground up, and it...
by - May 23, 2017
The wait for the Mustang’s GT-based Super Snake concept to be released is finally over. Shelby had recently collaborated with Ford Performance and Borla to come up with something that...
by - May 23, 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