PSA Group, the parent company of Peugeot, Citroën and Opel, among others, managed to increase profits last year. The company sold fewer cars, but mainly more expensive models. As a result, revenues increased.

PSA achieved a turnover of 74.7 billion euros, 1 percent more than in 2018. The net profit, partly helped by cost savings, increased from 2.8 billion euros to a record amount of 3.2 billion euros.

The prospects for 2020 are not that favorable. For Europe, by far the most important market for the company, PSA expects a sales decrease of 3 percent. The company has a big question mark in China, where many car factories are stalled due to the outbreak of the new corona virus.

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