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February 21, 2019

PSA claims EUR5bn France trade balance surplus

PSA claims it was a key contributor to France’s trade balance in 2018, with a surplus of EUR4.9bn (US$6bn).

By Rhodri Morgan

PSA claims it was a key contributor to France’s trade balance in 2018, with a surplus of EUR4.9bn (US$6bn).

The French manufacturer’s five vehicle assembly plants produced 1.2m vehicles last year, an increase of 6.4% compared to 2017, representing close to one-third of the Group’s worldwide vehicle production.

The level of domestic output exceeds the commitments made under the New Momentum for Growth agreement, signed in 2016 by five out of six French trade unions, representing 80% of employees.

Due to the Group’s manufacturing presence in France, 14 Peugeot, Citroën and DS vehicles were awarded the “Guaranteed French Origin” label by the not-for-profit organisation, Pro France.

“The Group [‘s] strong and regular contribution to France’s economic activity is a source of pride for our Group and for the 68,000 employees working in the country,” said PSA chairman, Carlos Tavares.

“It is the result of Group manufacturing French sites’ competitivity, which will be a key asset to face the challenges of energy transition.”

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