Peugeot Citroen reports historic sales jump

7th July 2010, Comments 0 comments

Strong global growth, new models, sales to China and an environmental focus helped French auto group PSA Peugeot Citroen to record high sales in the first half, the group said on Wednesday.

In the first half, sales outside Europe accounted for 36.0 percent of group sales from 34.0 percent in the first half of last year, as part of a group strategy to internationalise.

The group stood by its forecast that the European market would contract by about 9.0 percent this year.

Many European countries are withdrawing subsidies for the purchase of new vehicles in exchange for the scrapping of old cars, introduced at the height of the global economic downturn.

But PSA Peugeot Citroen said it expected its share of the European market to stay on an upward trend, thanks to new products.

Outside Europe, the group said it expected the Chinese market to grow by 10.0 percent or more, and the South American market to grow by less than 10.0 percent.

Group sales around the world rose by 16.9 percent in the six months, stronger than growth of the global market which expanded by 13.0 percent, the group said.

PSA said that it had increased its share of the European market to 14.6 percent, an increase of one percentage point from the share in the first half of last year.

Overall sales in the first six months amounted to the "best six months historically in terms of volume."

Brand manager Jean Marc Gales said that the results reflected the strength of the Peugeot and Citroen brands.

Drawing attention to what he termed the strong rise of market share in Europe, he stressed also the "development of presence in China" and "confirmation of the environmental leadership" of the group.

He also highlighted the launch of new models in Europe, China and South America.

© 2010 AFP

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