PSA adds Opel-Vauxhall to quarterly sales numbers to see revenue rise by 31%
Paris — French car maker PSA Group said quarterly revenue rose by almost a third, as the Peugeot maker added Opel-Vauxhall sales numbers for the first time while increasing deliveries in Europe and a rebounding Latin America. PSA raised its 2017 market forecasts for Latin America and Russia but continued to lose ground in China, where the group’s registrations plunged another 29%. Group third-quarter revenues rose 31% from a year ago to ¤15bn ($17.6bn). Automotive division revenue at its existing Peugeot, Citroën and DS brands rose by a more modest 11.6% to ¤8.42bn. Under CEO Carlos Tavares, PSA has powered to record profitability but lost its footing in China, the world’s biggest automotive market, where deliveries topped 700,000 cars in 2014. Sales in the region — mainly through two Chinese joint ventures — stood at 242,000 vehicles for first nine months of the year.
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