The PSA Group, parent company of Peugeot, Citroën, DS and Opel, among other things, recorded a net profit of 3.2 billion euros, 13.2 percent more than in the previous year, the French group announced on Wednesday.
The result is striking, as passenger car sales fell by 10 percent to 3.49 million units. The group did, however, sell more relatively expensive models, including the Citroën C5 Aircross. In addition, the company was able to realize cost savings, which also contributed to the black figures. Turnover increased by 1 percent to 74.7 billion euros.
Although PSA expects to achieve its objectives for the next two years, CEO Carlos Tavares warned against headwinds on the European market. That will shrink by 3 percent, the top man predicts. This year, the brand new Opel Corsa and ditto Peugeot 208, as well as the new Peugeot 2008. This year also electric versions of the aforementioned three models appear in the showroom.