PSA Group accelerates international development

Worldwide
Published:  27 April, 2017

The French automotive Group reported worldwide sales up 4.2% in the first quarter of 2017, mainly driven by Peugeot sales in Middle East and Africa.

The PSA Group’s first quarter 2017 revenue amounted to €13,629 million, of which €9,018 million for the Automotive division and €5,092 million for Faurecia; total revenue grew 4.9% year-on-year. The Automotive division revenue is reported to have increased 2.5%, mainly driven by the product mix improvement (+3.7%) linked to the success of recently launched models that more than compensated the negative impact of exchange rates (-1%).

While PSA’s sales in Europe remained almost unchanged (+0.1%) compared with the first quarter of 2016 (465,312 units delivered), sales in China and South East Asia declined -45.6% to 83,045 units in the period (Q1 2016: 152,705). However, the Middle East and African markets recorded an almost 300% increase to a total of 132,831 units delivered. Sales in the Euroasia region also registered a +31.2% increase in the first quarter, while Latin America registered a -1.5% decline. Overall, consolidated worldwide sales were up 4.2%, driven by Peugeot sales in Middle East and Africa. The Group reports an acceleration of international development with the first production of the Peugeot 2008 in Iran with Iran Khodro as well as partnerships signed in Uruguay, Vietnam and India.

In 2017, PSA says it expects the automotive market to grow by approximately 1% in Europe, 2% in Latin America, 5% in China and remain stable in Russia.

Peugeot 3008
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