Groupe PSA’s 2020 sales figures are, unsurprisingly, not very bright compared to last year. Nevertheless, thanks to a strong third quarter, the group manages to halt the downward trend somewhat.
Over the entire year so far, PSA has recorded a revenue decline of roughly a quarter. After the first six months, however, PSA was still on a 34.5 percent decline in turnover. Relatively good results in the third quarter, however, have caused that decline to be somewhat reversed. In Q3 of 2020, sales were € 15.5 billion, only 0.8 percent less than in the same period last year. The automotive division of PSA even accounted for a turnover growth of 1.2 percent to just under € 12 billion.
According to PSA, the strong third quarter is mainly due to a strong product mix and price promotions. In addition, the French concern saw sales pick up considerably in the Middle East and Africa. PSA sold 589,000 cars in July, August and September this year. However, seen throughout 2020, it will remain a difficult story, PSA also emphasizes. For the whole of 2020, the group now has a sales forecast that is 25 percent lower in Europe, 30 percent lower in South America, 20 percent lower in Russia and 10 percent lower in China compared to last year.