Press release
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october 28, 2020 - PSA
Q3 2020 Auto revenue: back to growth
- Automotive division[1] revenue up 1.2% at €12 billion driven by a recurring strong product mix and pricing policy;
- Group revenue down 0.8% at €15.5 billion;
- Success of recent launches with an increasing mix of electrified versions contributing to CO2 leadership;
- Significant sales growth in Middle East & Africa
Groupe #psa revenue amounted to €15,453 million in Q3 2020 compared to €15,579 million in Q3 2019.
Automotive division revenue amounted to €11,964 million up by 1.2% compared to Q3 2019. 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.
The strong product mix stems from the success of the Group’s last launches in particular Peugeot 208, Peugeot 2008, Opel Vauxhall Corsa, all available with a BEV and ICE version, 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.
Faurecia revenue was down 7.4% at €3,874 million.
Market outlook: in 2020, the Group 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.
Operational outlook (unchanged):
Groupe #psa has set the target to deliver over 4.5% #automotive adjusted operating margin[2] on average for the period 2019-2021.
Link to the presentation of Q3 2020.
Financial Calendar
24 February 2021: 2020 Annual Results
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