 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 by Staff Writers Paris (AFP) Oct 25, 2017
French carmaker PSA Peugeot Citroen said that revenues grew strongly in the third quarter, powered by the recent acquisition of Opel-Vauxhall, but car sales stalled in the key market of China. PSA said in a statement that group-wide revenues jumped by 31.4 percent to 15 billion euros ($17.6 billion) in the period from July to September. In its core brands of Peugeot, Citroen and DS, revenues were up 11.6 percent at 8.4 billion euros, with volumes and market share increasing in most regions, except China. Growth was mainly driven by the product mix and the worldwide success of new models "that more than compensated the negative impact of exchange rates," the carmaker said. Revenues at Opel-Vauxhall, the acqusition of which was finalised on August 1, amounted to 2.8 billion euros in the two months of August and September. Not including Opel-Vauxhall, PSA said it sold a a total 677,800 vehicles worldwide in the third quarter, 0.5 percent fewer than in the same period a year earlier. Unit sales were up in all regions, except China, where the number of vehicles sold slumped by 28.7 percent to 89,770. In the nine months to September, the slump was even more pronounced with unit sales in China skidding 42.7 percent. "It will take some months before sales turn around there," said finance chief Jean-Baptiste de Chatillon. "We're confident that China will return to the level of sales we're hoping for," he said. According to French daily Les Echos, PSA is considering selling one of its five factories in China. The group declined to comment on the report. tq/spm/rl
Singapore to freeze number of cars on its roadsSingapore (AFP) Oct 24, 2017 Singapore, one of the most expensive places in the world to buy a vehicle, has announced it will freeze the number of private cars on its roads from next year but vowed to expand public transport. The growth cap for all passenger cars and motorcycles will be cut from 0.25 percent a year to zero with effect from February, the Land Transport Authority (LTA) said. The affluent city-state of ... read more Related Links Car Technology at SpaceMart.com
|
|||||||||||||
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |
del.icio.us
Digg
Reddit
Google
