The turnover of PSA, parent company of Peugeot, Citroën and Opel, has been significantly lower since the beginning of this year due to the decreased car sales due to the corona crisis. The company saw sharply lower sales in Europe, China and Latin America in particular.
According to the group, group sales in the first nine months of the year were € 40.6 billion. A year earlier, that was € 53.9 billion. Total worldwide sales were down 37 percent to more than 1.6 million vehicles from last year.
PSA indicated that it would expect a 25 percent contraction in the European car market for the whole of this year. A minus of 30 percent is predicted for Latin America, a decrease of 20 percent for Russia and a contraction of 10 percent for China.
The car group is in the process of a merger with the Italian-American industry peer Fiat Chrysler Automobiles. This amalgamation should lead to the formation of the world’s fourth-largest automaker and be completed next year.