PSA has posted third-quarter Automotive division revenue rising 1.2% to EUR12bn (US$14bn), driven by what the manufacturer says is a recurring strong product mix and pricing policy.
Groupe PSA revenue fell 0.8% in the quarter to EUR15.5bn.
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The Group sold 589,000 cars globally in Q3, 2020 while continuing to prioritise profitability and cash generation.
Total inventory, including independent dealers and importers, stood at 428,000 vehicles at the end of September, 2020, down 26% compared to end of September, 2019.
Faurecia revenue dropped 7.4% at EUR3.9bn.
Market outlook:
In 2020, the Group anticipates a decrease by 25% of the automotive market in Europe, by 30% in Latin America, by 20% in Russia and by 10% in China.
Operational outlook (unchanged):
PSA has set the target to deliver more than 4.5% Automotive adjusted operating margin on average for the period 2019-2021.
