Groupe PSA Q3 2019 Results
Q3 2019 Group revenue growth
- Group Q3 revenue up 1% at €15.6 billion;
- Automotive division revenue up 0.1% at €11.8 billion;
- New growth of market share in Europe : +0.1 pt
Groupe PSA revenue amounted to €15,579 million in Q3 2019 compared to €15,428 million in Q3 2018.
Automotive division revenue amounted to €11,824 million up by 0.1% compared to Q3 2018. A strong product mix (+4.4%) as well as positive price conditions (+1.0%) more than offset the decrease of sales to partners (-3.2%), the negative impact of exchange rates (-0.8%) including hyperinflation in Argentina as well as volumes and country mix (-0.7%) and others (-0.6%). The strong product mix stems from the success of the group’s last launches in particular Citroën C5 Aircross, Peugeot 508, DS 3 CROSSBACK and Opel Vauxhall Combo.
The Group has sold 674,000 cars in the world in Q3 2019 while continuing to prioritize profitability and to prepare efficiently the 2020 regulatory deadlines.
Total inventory, including independent dealers and importers, stood at 574,000 vehicles at the end of September 2019, down 29,000 units compared to end of September 2018.
Faurecia revenue was up 4.3% at €4,185 million.
Market outlook: in 2019, the Group anticipates a decrease by 1% of the automotive market in Europe, by 5% in Latin America, by 7% in China and by 2% in Russia.
Operational outlook (unchanged):
Groupe PSA has set the target to deliver over 4.5% Automotive recurring operating margin on average for the period 2019-2021.
Link to the presentation of Q3 2019.
26 February 2020: 2019 Annual Results