Groupe PSA revenue down 15.6% in Q1

Published:  22 April, 2020
Credit: Citroen/Patrick Legros/Hermès

Groupe revenue for the French automotive manufacturer Group amounted to €15,179 million in the first quarter of 2020, down from €17,976 million in the same quarter in 2019 (-15.6%).

Revenue for Groupe PSA’s Automotive division totalled €11,934 million in the first quarter, a 15.7% decline year-on-year. “With a total of 627,000 cars soldQ1 2020 consolidated worldwide sales were down, impacted by the Covid-19 crisis”, said the Group in a statement. The positive impact of product mix (+5.3%), price (+0.5%) as well as other effects (+3.5%) and sales to partners (+0.1%) are said to have partially offset the sharp decrease of volumes and country mix (-24.6%) and the negative impact of exchange rates (-0.5%). Total inventory, including independent dealers and importers, stood at 715,000 vehicles at March 30, and decreased by 1,000 units from March 31, according to the Group.

Revenue at automotive seating and components manufacturer Faurecia was down at €3,739 million for the first quarter.

In 2020, the Groupe PSA now anticipates a 25% decrease of the automotive market in Europe, a drop of 10% in China, 25% in Latin America and 20% in Russia respectively. “The outlook is currently difficult to assess and will depend on the scale, duration and geographic extent of the Covid-19 crisis, as well as the measures taken by the countries concerned”, said the Group in a statement.