Groupe PSA automotive division revenue amounted to €11,964m in Q3, up by 1.2% compared to Q3 2019.
The Group has said that a strong product mix (+5.8%) as well as positive price actions (+1.5%), other effects (+2.7%) and an increase of sales to partners (+0.1%) more than offset the decrease of volumes and country mix (-6.8%) and the negative impact of exchange rates (-2.1%), mainly driven by the Turkish lira and Argentinean peso.
This strong product mix stems from the Group’s last launches, in particular Peugeot 208, Peugeot 2008, Vauxhall and Opel Corsa, all available with as a battery electric vehicle and also ICE versions, and Citroën C5 Aircross PHEV.
The Group has sold 589,000 cars in the world in Q3 2020 while continuing to prioritize profitability and cash generation.
Total inventory, including independent dealers and importers, stood at 428,000 vehicles at the end of September 2020, down 26% compared to end of September 2019.
The Group has said that it anticipates a decrease by 25% of the automotive market in Europe, by 30% in Latin America, by 20% in Russia and by 10% in China.
It has set the target to deliver over 4.5% automotive adjusted operating margin on average for the period 2019-2021.