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.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Bilderberg Europa Hotel got a new general manager

Jurriaan Theloosen is the new general manager of the Bilderberg Europa Hotel in Schevening…