PSA has reported that consolidated sales for the first three months of 2004 amounted to €13,762 million, a 0.6% decline from the €13,841 million reported in first-quarter 2003. Excluding the currency effect, sales were up 0.2% for the period.


Automobile Division sales contracted by 1.5% during the quarter to €11,054 million, while worldwide unit sales rose 0.3% to 826,300 vehicles.


In Western Europe, where demand for passenger cars and light commercial vehicles increased by 3.2% in the first quarter, PSA Peugeot Citroën registrations declined by 3.6%, for a market share of 15.3%, compared with 16.4% at March 31, 2003 and 14.9% in second-half 2003. Unit sales (i.e. vehicles invoiced to dealers) were down 7.7%, to 609,000 units, as inventories were drawn down.


Outside Western Europe, first-quarter sales increased by 32.7% to 217,300 units.


In Central and Eastern Europe and Turkey, sales were up 18.2% to 54,300 units.


Sales in South America rose by 17.3% to 31,500 units, mainly due to a recovery in Argentina.


The market continued to grow in China, increasing 39% year-on-year, while Group sales totalled 22,900 units. Market share stood at 4% at March 31, 2004, compared with 3.9% in fourth-quarter 2003.


Banque Psa Finance reported revenues of €433 million, versus €431 million in first quarter 2003. Total loans outstanding amounted to €19.9 billion, a 4.9% increase from March 31, 2003. In all, 225,300 new loans were originated in the first quarter, a 2.2% increase over the prior-year period.


GEFCO sales rose by 2.3% to €711 million from €695 million at March 31, 2003.


Faurecia reported sales of €2,605 million, versus €2,582 million in first quarter 2003. Excluding the impact of lower prices for the catalysts used in exhaust systems, the currency effect and changes in the scope of consolidation, sales were up 5.3%, reflecting sustained demand for Faurecia’s products, particularly car seats, PSA said.


 


CONSOLIDATED SALES













































(In millions of euros)


March 31, 2004


March 31, 2003


% change


Automobile Division


11,054


11,222


-1.5%


Banque PSA Finance


433


431


+0.5%


Gefco


711


695


+2.3%


Faurecia


2,605


2,582


+0.9%


Other businesses


206


218


-5.5%


Intra-company sales


(1,247)


(1,307)


 


Total PSA Peugeot Citroën


13,762


13,841


-0.6%


WORLDWIDE AUTOMOBILE SALES




























































































































(in units) *


March 31, 2004


March 31, 2003


% change


Western Europe


609,000


660,000


-7.7%


 


Peugeot


317,700


355,300


-10.6%


 


Citroën


291,300


304,700


-4.4%


of which France


182,200


204,600


-11.0%


 


Peugeot


98,200


111,500


-11.9 %


 


Citroën


84,000


93,100


-9.8%


Rest of World


217,300


163,800


+32.7%


 


Peugeot


154, 300


103,900


+48.5%


 


Citroën


63,000


59,800


+5.2%


Total Sales


826,300


823,800


+0.3%


 


Peugeot


472,100


459,200


+2.8%


 


Citroën


354,200


364,600


-2.8%


Of which passenger


722,000


727,100


-0.7%


cars


 


 


 


 


 


Peugeot


421,100


413,200


+1.9%


 


Citroën


300,900


313,900


-4.2%


Light commercial


104,300


96,600


+8.0%


vehicles


 


 


 


 


 


Peugeot


51,000


46,000


+10.9%


 


Citroën


53,300


50,600


+5.3%


 * Assembled vehicles, disassembled components and CKD units