Peugeot first quarter revenue rose 4.9 percent as new models offset forex impact
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French carmaker PSA Group’s first-quarter revenue rose 4.9 percent, the maker of Peugeot, Citroen and DS models said on Wednesday, as new models helped offset the effect of weak sales growth and a negative exchange-rate impact.
Revenue rose to 13.63 billion euros ($14.92 billion) from 13 billion a year earlier, the Paris-based company said. Revenue at the core automotive division rose 2.5 percent to 9.02 billion euros.
PSA also lifted its full-year market outlook to a 1 percent expansion in Europe and 2 percent in Latin America, having previously forecast flat demand in both regions.
Questions & Answers
Q.What was the total revenue for PSA Group in the first quarter?
What was the total revenue for PSA Group in the first quarter?
PSA Group's total revenue for the first quarter reached 13.63 billion euros, marking an increase from 13 billion euros recorded in the same period the previous year. This figure represents a 4.9 percent rise overall.
Q.What contributed to the increase in PSA Group's first-quarter revenue?
What contributed to the increase in PSA Group's first-quarter revenue?
The rise in PSA Group's first-quarter revenue was primarily driven by the performance of new car models. These new models helped to counteract the negative effects of weak sales growth and an unfavourable exchange-rate impact during the period.
Q.How did the core automotive division perform compared to the overall group revenue increase?
How did the core automotive division perform compared to the overall group revenue increase?
The core automotive division's revenue increased by 2.5 percent, reaching 9.02 billion euros. This was a lower growth rate than the overall group revenue, which saw a 4.9 percent rise.
Q.Has PSA Group changed its market outlook for the full year?
Has PSA Group changed its market outlook for the full year?
Yes, PSA Group has revised its full-year market outlook. It now predicts a 1 percent expansion in Europe and a 2 percent expansion in Latin America, an increase from its previous forecast of flat demand in both regions.
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