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24/04/2008 | Paris - April 24, 2008

Worldwide sales up 6.1% to 876,400 units
Growth in emerging countries: + 16.1%
Growth of commercial vehicles: + 10.3%
Group turnover growth: + 2.3%

Highlights

  • Consolidated turnover up 2.3% to €15,212 million
  • Vehicle and CKD sales up 6.1% to 876,400 units
  • Assembled vehicles sales increasing to 809,700 units (+ 2.3%)
  • CKD sales doubled (+ 92.9%)
  • Market share maintained in Europe at 14.0%
  • Emerging country sales up 16,1%
  • Light commercial vehicles leadership strengthened: 19.6% of the European market
  • Peugeot 308 meeting expectations: 64,000 sales during Q1

Consolidated turnover at March 31, 2008 stands at €15,212 million, up 2.3 % compared with €14,874 million in Q1 2007.

Net sales of Banque PSA Finance amounted to €524 million in Q1 2008, i.e. 10.3 % higher than Q1 2007. This performance can be explained by the increase in both average interest rates and total outstanding loans (+1.9%).
Gefco turnover rose to €925 million in Q1 2008, i.e. 4.2% higher than Q1 2007.

Faurecia net sales in Q1 2008 remain stable at €3,245 million. Excluding monoliths, turnover stands at €2,846 million, up 1.4% on a like-for-like structure and exchange rate basis.

Turnover generated by the automotive division, at €11,869 million, is up 2.4% on Q1 2007 (€11,595 million), and 3.9% on a like-for-like basis. This performance is in line with expectations considering the 3% fewer days worked in Q1 2008 compared to Q1 2007.

The economic environment in Q1 was contrasted with, on one hand, the marked depreciation of the US dollar and the pound sterling compared with the Euro, and on the other hand, a slight downturn in the European automotive market (-2.9%). In spite of this, the Group managed to increase its sales quite spectacularly in Russia and Mercosur, at the same time securing virtually stable market share in Europe.

At the end of March 2008, on a European cars and light commercial vehicles market down 2.9 %, vehicle sales fell 0.9%, with market share for Peugeot and Citroën slipping to 14.0 %, compared with 14.2% in Q1 2007.
In France, market share rose to 32.6 %, the best quarterly performance for the Group since 2004. In Italy and Germany, the Group also reinforced its market position compared with Q1 2007.

With worldwide sales reaching 132,000 units, the Peugeot 207 gains 10% and comforts its European pole position in this segment. At the same time, sales of the Peugeot 206 are up 6.6%.
The Picasso range helps Citroën strengthen its compact family-car leadership in Europe, with Picasso sales on this segment worldwide up 13.8%.
Having completely renewed its light commercial vehicle range, the Group now enjoys stronger leadership in Europe, its unit sales up 10.3 % and its market share up 0.6 pts to 19.6%.
The first signs of the range-extending Nemo and Bipper launches are promising.

The rise in sales is sustained by sound performances realized outside Europe. CKD sales reached 66,700 vehicles, with a 92.4% increase almost exclusively related to sales to lran.

Growth in our priority development regions reaches 16.1%.
In Eastern Europe, sales volumes are up 5.4% to stand at 33,200 units.
Growth in China remains limited to 3.8% in Q1, although the month of March shows signs of a rebound with sales and registrations up 25%.
In Russia, sales are up 29.6%, representing 9,900 units. Peugeot registrations have doubled in comparison with Q1 2007.
In the Mercosur region, the Group sold 59,000 vehicles in Q1, an increase of 36.4 %, taking its market share up to 15.9% in Argentina and 5.6% in Brazil, respectively up 0.8 pts and 0.4 pts compared with Q1 2007.

Sales of the Peugeot 308 have increased as forecast and will benefit from the introduction of the SW version during Q2 to reach the 2008 target of 350,000 vehicles.
 

OUTLOOK

Q2 will see a significant number of market launches, with the Peugeot 308 SW, the new Citroën C5 and C5 Tourer, the new Peugeot Partner and Citroën Berlingo, the restyled Citroën C3 in Mercosur and the Citroën C-Elysée in China.
As a consequence, the Group reaffirms its 2008 worldwide sales target of a volume growth around 5%.

CONSOLIDATED SALES AND REVENUE

(in million euros) March 31, 2007 March 31, 2008 M€ change % change
Automotive division 11,595 11,869 +274 +2.4%
Faurecia 3,243 3,245 +2 +0.0%
Gefco 888 925 +37 +4.2%
Banque PSA Finance 475 524 +49 +10.3%
Other businesses and eliminations (1,327) (1,351)    
Total PSA Peugeot Citroën 14,874 15,212 +338 +2.3%

 WORLDWIDE AUTOMOBILE SALES

(in units)* 3 months 2007 3 months 2008 Units change % change
Western Europe 596,300 591,100 -5,200 -0.9%
Eastern Europe** 31,500 33,200 +1,700 +5.4%
Russia 7,600 9,900 +2,300 +29.6%
Mercosur*** 43,300 59,000 +15,700 +36.4%
China 52,200 54,500 +2,000 +3.8%
Rest of the world 60,400 62,000 +1,600 +2.7%
Total assembled vehicles 791,500 809,700 +18,200 +2.3%
CKD units 34,600 66,700 +32,100 +92.9%
Total unit sales 826,100 876,400 +50,300 +6.1%
Of which passenger cars 717,300 756,300 +39,000 +5.4%
light commercial vehicles 108,800 120,100 +11,300 +10.3%

* Assembled vehicles, disassembled components and CKD units
** Croatia, Hungary, Poland, Czech Republic, Slovakia, Slovenia, Lithuania, Latvia, Estonia, Cyprus, Malta
*** Argentina, Brazil

 

 

 

 

 

 

 

 


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