PSA Group’s first quarter 2016 revenue amounted to €12.99 million, of which €8.79 million for the automotive division and €4.6 million for Faurecia, representing a 1.5% increase at constant exchange rates.

According to the Group, the operating environment is mixed with strong European market growth but unfavourable exchange rates.

New vehicle revenue dropped 1.1% in the period for the automotive division. Global sales volumes (excluding China) were up 3.9%, partially offsetting the negative impact of exchange rates (-4.4%).

In Europe, the increase in sales volumes (+5.9%) was driven by growth in all three brands, Peugeot, Citroën and DS. In China, deliveries to end customers were stable (-0.9%), while sales were down 17.9%. In Africa and Middle East, the Group’s sales fell by 22.2%, mainly in the Algerian market.

For 2016, the Group expects the automotive market to grow around 4% in Europe and 5% in China, and to contract by approximately 10% in Latin America and 15% in Russia.

Earlier in April, Faurecia, the automotive car parts manufacturer partly owned by PSA (49.48% as of late 2015), has posted consolidated sales growth for the first-quarter of 2016, up 4.4% year-on-year. Read more here.