PSA has reported third-quarter Group revenue up 1% to EUR15.6bn (US$17.3bn), with Automotive Division revenue rising 0.1% to EUR11.8bn.
“A strong product mix (+4.4%) as well as positive price conditions (+1.0%) more than offset the decrease of sales to partners (-3.2%), the negative impact of exchange rates (-0.8%) including hyperinflation in Argentina as well as volumes and country mix (-0.7%) and others (-0.6%),” said a PSA statement.
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“The strong product mix stems from the success of the group’s last launches in particular Citroën C5 Aircross, Peugeot 508, DS 3 Crossback and Opel Vauxhall Combo.”
The Group sold 674,000 cars globally in Q3, 2019 while adding it was preparing “efficiently” for 2020 regulatory deadlines.
Total inventory, including independent dealers and importers, stood at 574,000 vehicles at the end of September, 2019, down 29,000 units compared to end of September, 2018.
Faurecia revenue was up 4.3% at EUR4.19bn.
Market outlook: In 2019, the Group anticipates a decrease by 1% of the automotive market in Europe, by 5% in Latin America, by 7% in China and by 2% in Russia.
Operational outlook (unchanged):
Groupe PSA has set a target to deliver more than 4.5% Automotive recurring operating margin on average for the period 2019-2021.
