PSA Peugeot Citroen ends sales slump in 2014 image

For the first time in four years, following the aftermath of the European economic crisis of 2008-2009 that led to the region’s six years sales slump, deliveries of the second largest automaker on the continent rose in 2014.

PSA Peugeot Citroen, which benefited from a restructuring process that also required an infusion of capital, is today headed by a tri-partisan rule – China’s Dongfeng Motors and the French government invested and claim 14% stakes each, while the Peugeot founding family lowered its share count to match the other two. Now, as the carmaker has benefited from the incipient recovery in Europe and following increased demand seen in China – the world’s largest auto market – new car registrations of PSA cars soared 4% to 2.94 million from 2.82 million in 2014 versus the same period of 2013. According to a company statement released today, the growth pillars were the Peugeot 2008 and 3008 crossovers and the new 308 compact hatchback. Overall, worldwide sales of Peugeot vehicles climbed 6%, while the Citroen brand saw even better sales, rising 7%.

The figure reported for 2014 is still around 18 percent off the record total accounted back in 2010, when PSA, the second-largest automaker in Europe behind Volkswagen AG reported sales of 3.6 million units. PSA said that European increases were buoyed by the Peugeot 308, holder of the 2014 European Car of the Year title and the objective exceeding success of the Citroen C4 Cactus – with group deliveries up 8% across the region for a tally of 1.76 million autos. Sales in China jumped 32% to 734,000 vehicles in 2014, on the back of the Peugeot 2008 and 3008. Latin America and the Russian zone instead saw strong headwinds, with the former dropping 34% and the latter, including Ukraine plummeting 41% last year.

Via Automotive News Europe