PSA Peugeot-Citroen increased vehicle sales by 4 % in the fourth quarter, stemming its decline for the year as the company seeks to raise money to fund the turnaround plan.
Deliveries in the last three months of 2013 rose to 748,000 vehicles, boosted by demand for the 2008 crossover and 308 hatchback, PSA said in a statement. Still, the troubled French automaker negotiating a tie-up with China’s Dongfeng also said its global car sales fell 4.9 % as European demand hit a twenty-year low in 2013.
Peugeot’s global deliveries fell to 2.82 million vehicles last year from 2.97 million in 2012, weighed down by a 7.3 % sales decline in Europe, where the Paris-based company does more than half of its business by volume.
PSA helped offset weakness in Europe by expanding sales overseas. Deliveries outside its home region accounted for 42 % of total sales last year. The company has a target of selling half of its cars outside Europe by 2015.
The automaker’s deliveries in China climbed 26 % to 557,000 vehicles last year. New models in China include the Peugeot 3008 and the Citroen C4L sedan. Sales in Latin America rose nearly 7 % 303,000 autos, PSA said.
PSA is struggling to end losses following a European auto-market contraction that lasted into a sixth year in 2013.
The automaker’s reorganization has included moves to add models and shutter an auto plant at Aulnay near Paris. The company hired Carlos Tavares, a former manager at competitor Renault, to become CEO later this year.