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PSA Peugeot Citroen gets boost from sales in China


PSA Peugeot Citroen gets boost from sales in China


Booming Chinese sales have been helping PSA Peugeot Citroen.

Between July and September its revenue increased by 1.6 percent to 2.3 billion euros.

There was a 55 percent surge in deliveries in China, while other regions struggled

That gives the troubled French carmaker some breathing space as it moves to revive its fortunes through reduced costs, a streamlining of its model lineup and higher prices.

The company had to be rescued in a share issue earlier this year involving the French state and Peugeot’s Chinese partner Dongfeng. Both acquired matching 14 percent stakes in a three billion euro capital increase.

Peugeot raised its full-year market forecast for Europe, an area that still accounts for 60 percent of its sales volume, but downgraded estimates for Latin America and Russia.

When combined with sales proceeds from its Chinese joint ventures with Dongfeng and Changan Automobile Group, the quarterly auto division revenue rose 2.7 percent year-on-year.

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