PSA lifts half-year sales on Europe and China image

The second largest European carmaker, PSA Peugeot Citroen, announced its January to June deliveries modestly grew by 5.5%, buoyed by stronger demand in Europe and China.

During the latest turn of events, PSA has intensely fought in recent years to shed its dependence on the core home region, going as far as to secure a cash tie-up with its most important Chinese partner – Dongfeng Motors. Now, on a global basis, the French automaker saw its business dip because of currency issues. The only exceptions, China, the world’s largest single auto market and Europe, which is finally seeing the long-awaited recovery.

“We are becoming a little more dependent on Europe again, which is bad news for our internationalization goal,” said Peugeot brand chief Maxime Picat. “But we’re not going to complain if Europe is doing better. The rouble-euro exchange rate is particularly devastating,” he added.

The six months tally is now at 1.54 million units, up from 1.46 million cars for the same period last year. Under new Chief Executive Carlos Tavares, the Paris-based company has returned to gain back some European market share – on the back of new model entries and rising sales in France, Spain and Britain. Overall in the region deliveries were up 11.7% to 956,000 cars and trucks, while in China sales rose 28%.

Via Reuters