Groupe PSA reports strong growth
Groupe PSA has reported an increase in revenue of 31.4%, at €15.0bn, with Peugeot Citroën DS (PCD) Automotive division revenue up 11.6%.
Group Q3 2017 revenue amounted to €14,988m, compared with €11,404m in Q3 2016.
In the first nine months of the year, 2017 Group revenue reached €44,153m, compared with €39,183m in 2016, up 12.7%. At constant 2015 exchange rate and perimeter, 2017 Group cumulated revenue was up 9 per cent.
PCD Automotive division revenue amounted to €8,418m up by 11.6% compared to Q3 2016. This increase was mainly driven by the product mix (+5.4%) and the volume and country mix (+5.7%) improvement linked to the worldwide success of the Group’s new models (Peugeot 3008, 5008, Expert and Traveller, Citroën C3, C3 Aircross, C5 Aircross, Jumpy and SpaceTourer), as well as sales to partners (+2.7%), that more than compensated the negative impact of exchange rates (-2.3%).
OV Automotive division revenue amounted to €2,789m for the two months of August and September.
Q3 consolidated worldwide sales as well as market share were up in all regions (Europe, Middle East Africa, Latin America, Eurasia and India Pacific) except in China. Including volumes of Opel Vauxhall2, sales were up by 23.8% in Q3 2017 versus Q3 2016.
Total PCD inventory, including independent dealers, stood at 369,000 vehicles at the end of September 2017, down 31,000 units compared to end of September 2016. OV inventory totalled 273,000 vehicles at the end of September 2017.
Jean-Baptiste de Chatillon, chief financial officer of Groupe PSA and member of the managing board, said, ‘The Groupe PSA and more specifically PCD is now combining strong growth with its price and cost discipline. This is key for achieving the challenges ahead of us in an ever so uncertain economic environment.’