PSA Peugeot Citroen announced third-quarter consolidated sales and revenue were up 11.9%, while a second-half operating margin objective of more than 2% has been confirmed.
Consolidated sales and revenue increased by 11.9% in the third quarter of 2007 to €14,024 mln, from €12,538 mln in the year-earlier period. For the full nine months, sales and revenue amounted to €44,842 mln, up 7.7% on the €41,631 mln reported in the first nine months of 2006.
Banque PSA Finance reported revenue of €498 mln in the third quarter, a 12.2% rise over third-quarter 2006. Revenue for the first nine months of 2007 totaled €1,473 mln, compared with €1,304 mln for the prior-year period.
The loan book rose to €23.2 bln, a 4.0% increase from September 30, 2006, while originations at end-September 2007 were up 2.9% to 638,500 contracts and the penetration rate stood at 25.5%, versus 25.8% one year earlier.
Gefco reported revenue of €835 mln in the third quarter, a 12.7% rise over the prior-year period. For the full nine months, revenue was up 9.7% at €2,632 mln, versus €2,399 mln for the first nine months of 2006. Revenue from non-Group customers continued to rise, increasing by 10.8%.
Faurecia reported third-quarter sales of €2,815 mln, up 8.7% from €2,589 mln in third-quarter 2006. Nine-month sales came to €9,327 mln, compared with €8,569 mln for the first nine months of 2006. This represented sales growth of 8.8% overall and 9.0% for non-Group customers.
Automobile Division sales and revenue for the third quarter increased by 12.2% to €10,964 mln. For the first nine months of the year, division sales and revenue amounted to €35,134 mln, compared with €32,755 mln for the prior-year period, an increase of 7.3%. The sharp growth in the third quarter was led by a 14.4% increase in new vehicle sales resulting mainly from volume gains, higher prices and an improvement in the product mix. Compared to the previous-year period, third-quarter 2007 saw a 3.0% improvement in the product mix and a 1.4% increase in prices, confirming the trends already apparent in the first half.
In the third quarter, unit sales rose by 11.9% year-on-year to 783,600, of which 734,600 assembled vehicles and 49,000 CKD units. For the nine-month period, sales of Peugeot and Citroen vehicles increased by 3.4% to 2,547,700 units, of which 2,405,700 assembled vehicles and 142,000 CKD units.
The strong growth in third-quarter unit sales was partially due to a low prior-year comparative.
In a Western European market where demand for passenger cars and light commercial vehicles rose by a modest 0.4% for the first nine months of 2007, Peugeot and Citroen registrations increased by 0.8%. This gave the Group a market share of 13.9%, compared with 13.8% a year earlier. 9 month unit sales increased by 2.5% to 1,740,900 units.
In Central and
In the Mercosur countries, sales for the period were up 24.3% to 152,900 units in a market that continued to expand rapidly. The Group improved its penetration in
The Group’s sales in
In
At 387,300 units, sales of the Peugeot 207 were in line with objectives. Peugeot strengthened its leadership in the small-car segment, led by the 107 and ongoing sales of the 206, while Citroen benefited from full ramp-up of the C4 Picasso, of which 148,000 units were sold. With the C4 Picasso and Xsara Picasso, Citroen saw its sales of compact MPVs increase by 68.5%, making the marque the European leader in the segment.
The Group strengthened its European leadership in light commercial vehicles, with an 18.6% market share at September 30, 2007. The market rollout of the Peugeot 308, available in the first dealerships as of mid-September, has fully met the marque’s expectations, with order volume of 1,200 units a day.
Unit sales are in line with the CAP 2010 objectives. Sales in Western Europe are on track and on schedule in
Sales were increased while also improving pricing and the product mix. This sound growth was supported by a strong disciplined management of inventories.
