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PSA expects further under-performance of the car market


French car manufacturer PSA expects sales to fall in different regions this year. The group behind brands such as Peugeot, Citro├źn and Opel is more pessimistic about sales in Latin America and in Russia.

Earlier this year, the presentation of the half-year figures in Russia was still counting on growth. Sales declines are also assumed in Europe and China.

Almost the entire sector is struggling with weakening demand, increasing competition from relative newcomers such as Tesla and the emergence of electric driving, which requires substantial investment. For example, last week Renault’s competitor cut the profile.

PSA sales in the third quarter rose 1 percent to 15.6 billion euros. That was better than the average analysts were counting on. PSA did good business with the launch of new models. This compensated for the influence of negative exchange rate effects and of hyperinflation in Argentina. In total, around 674,000 cars were sold during the three-month period. The company did not provide any profit figures.

Written by: Grace Kennedy

Grace Kennedy is a leading journalist, columnist of events in Ireland and beyond. 8 years in journalism, since she dropped out of university and ran away from home.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

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Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

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