PSA group, which owns Citroen, Peugeot and Vauxhall/Opel, has published revenue growth of 7.8 per cent in the third quarter of this year compared to the same period in 2017.
The group posted revenues of £13.6bn for activities between July and September, which has contributed to the overall figure for 2018 of £47.7bn – up 29.1 per cent on last year.
For the Peugeot, Citroen and DS (PCD) side of the business, revenue increased by 0.8 per cent, while the Opel/Vauxhall side provided £3.4bn towards the total for Q3.
Overall, PSA group sold 703,000 units in that period – which is down by 16.7 per cent compared to 2017. This was mainly down to the suspension of the company’s activity in Iran from May – but European sales were up by 8.1 per cent to soften the blow.
Chief financial officer for Groupe PSA, Phillipe de Rovira, said: “The execution of Push to Pass strategic plan for PCD and the PACE! Opel Vauxhall turnaround plan is again proving to be a strong lever to deliver a sustainable performance despite an adverse environment.”
The group predicts a two per cent growth in its European results, as well as three per cent in Latin America, 10 per cent in Russia and one per cent in China.
