Peugeot first quarter revenue rose 4.9 percent as new models offset forex impact

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.