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PSA increases its revenues 31.4% after integrating Opel

Automotive News

The French automotive group PSA, maker of Peugeot and Citroën, announced today that its turnover in the third quarter of the year was 14.988 million euros, up 31.4% explained partly because it integrates for the first time 2 months of the newly acquired German brand Opel Vauxhall.

The German school, acquired last summer, contributed 2,789 million euros to the group’s sales in August and September, PSA said in a statement.

So far this year, the automobile manufacturer’s turnover stood at 44.153 million euros, up 12.7% over the same period in 2016.

The group said that in the third quarter sales of its historic brands, Peugeot, Citroën and DS, reached 8,418 million euros, up 11.6%, a rise attributed to the good reception of the markets to their new models , while sales to partners rose 2.7%, which offset the negative impact of the exchange rate, which was 2.3%.

In a context in which it expects world sales in the automotive sector to grow by 3% in 2017, PSA aims to achieve a current operating margin of more than 4.5% in its automobile division in 2016-2018 and one increase of 10% of its sales between 2015 and 2018, to reach 15% in 2021.

By Efe – Paris – 10/25/2017 (Translation Soft)

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