PSA Citroen Q3 revenue up 3.2%

Worldwide
Published:  28 October, 2015

The group’s revenue is up 3.2% year-on-year for the third quarter of 2015 despite an overall drop in sales volume in Latin America and Asia.

Consolidated revenue in the third quarter of 2015 totalled €12.390 million, up 3.2% compared with the same period in 2014.  The automotive division revenue, excluding contribution of the Chinese joint ventures, amounted to €8.052 million for the period, up 1% year-on-year.

New car revenue increased 2.6%, driven in particular by a 1.2% increase in net price and a 0.8% positive impact from both volumes and family mix. However, the overall worldwide sales volume dropped 4.3% for Q3 2015.

Sales growth accelerated in Europe, representing 6.1% in the third quarter against 2.9% in the first half, but decreased 17% in Asia, 23% in Latin America and 45% in Eurasia. The Group is pursuing measures to right size fixed costs in order to reach breakeven by 2017.

In Middle East and Africa and India-Pacific regions, sales decreased 7% and 24%, but the Group's year-to-date sales in these regions were still up 14% and 15% respectively.

Total inventory, excluding China but including independent dealers, stood at 382,000 vehicles at the end of September, 11,000 fewer than at end-September 2014.

Faurecia, run as an independent company but controlled at around 57.4% by PSA Citroen, reported revenue of €4.749 million in the third quarter, a year-on-year increase of 8.3%.

In 2015, the Group expects automotive demand to expand 8% in Europe and, approximately, 3% in China but to contract by around 15% in Latin America and 35% in Russia.

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