PSA group announce profit increase plus plans to re-enter North America

PSA group reveals rise in profit and sales for 2018 plus plans to reintroduce Peugeot name into North American market after 30 year hiatus

Peugeot e-208 - front

PSA has announced strong financial results for 2018, with sales and profits increasing in both the Peugeot/Citroen/DS arm and the recently acquired Vauxhall/Opel division.

Sales of 3.88 million vehicles across the entire group in 2018 represent a 6.8 percent increase over the previous year. This is of course helped by the fact that 2018 was the first full year to include Opel and Vauxhall sales - those two brands only contributed to the final five months of PSA’s 2017 figures.

JLR posts a huge financial loss 

The sales increase is a result of an increase in overall revenue. The €74 billion overall figure is 18.9 percent up on 2017 numbers. The increase comes in spite of exchange rate changes, which PSA say have reduced potential gains by 2.7 percent, and increases in the cost of raw materials. Of that overall figure, €18,306 million is contributed by Opel and Vauxhall, which at €1,526 million each month, represents a €77.9 million monthly improvement on 2017 numbers.

It isn’t just sales and revenue up, but profitability, too. The recurring operating margin - the brands’ bottom line of profit in relation to its overall revenue, is up 8.4 percent for the Peugeot/Citroen/DS brands combined, and 4.7 percent up for the Opel/Vauxhall pair.

The results mean that PSA will push ahead with expansion plans over the coming years, allowing the group to continue its objective to become a truly global car maker. This includes plans for Peugeot to return to North America for the first time since the early 1990s, Citroen to join the Indian market, and for Opel to enter Russia.

The result follows shortly after PSA announced it would be hiring an extra 1,600 staff - half of which will be based in France, the rest spread across another 10 European countries.

PSA also used the news to confirm its emissions-reducing drive. Roughly 50% of group models will be available to buy with electrified powertrains by 2021, and that figure will increase to 100% by 2025. By the same deadline, hydrogen will play a part in future drivetrains, with public trials set to take place in business to business fleets.

Read our story on the brand new Peugeot 208 here...

Recommended

Peugeot launches official restoration service for heritage vehicles
News

Peugeot launches official restoration service for heritage vehicles

Peugeot is currently rebuilding a 205 GTi to original specification – and the service will be open to the public from early 2021
15 Oct 2020
Peugeot Le Mans Hypercar will enter World Endurance Championship
News

Peugeot Le Mans Hypercar will enter World Endurance Championship

The new Peugeot Le Mans racer will feature hybrid tech and road car design cues
18 Sep 2020
Stellantis: the new name for FCA and PSA post merger
Fiat

Stellantis: the new name for FCA and PSA post merger

FCA and PSA have almost finalised the terms of their merger – and the pair's combined business will be called Stellantis
16 Jul 2020
“The time is right for cars like Citroen Ami in the UK”
Citroen

“The time is right for cars like Citroen Ami in the UK”

Editor-in-chief Steve Fowler thinks the time is right for cars such as the Citroen Ami and other urban runabouts to come to the UK
6 May 2020

Most Popular

New Audi RS e-tron GT electric supercar to boast around 700bhp
Audi e-tron GT

New Audi RS e-tron GT electric supercar to boast around 700bhp

The hot Audi RS e-tron GT will use a triple-electric motor set-up and our exclusive images preview how it could look
16 Oct 2020
Honda axes diesel power in the UK
Honda

Honda axes diesel power in the UK

Honda has quietly phased-out its diesel-powered models in Britain
19 Oct 2020
New 2022 Mercedes EQE electric saloon to rival Tesla Model S
Mercedes EQE

New 2022 Mercedes EQE electric saloon to rival Tesla Model S

The all-electric Mercedes EQE saloon will below the EQS limousine when it arrives in 2022 and our exclusive images preview how it could look
15 Oct 2020