2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
PSA Peugeot Citroen is sticking to its annual targets despite expected bottlenecks due to the natural disasters in Japan. The first quarter was still very satisfactory.
The French car manufacturer PSA Peugeot Citroen started the year well and is sticking to its forecasts despite supply problems due to the natural disaster in Japan. The turnover of the entire group rose in the first quarter by 10.2 percent to 15.4 billion euros, as the company announced on Wednesday in Paris. That was more than analysts expected. Good business, especially in emerging markets, drove growth.
Faurecia with strong growth
The auto division achieved sales of 11.3 billion euros, six percent more than a year earlier. There was a strong increase of almost a quarter at the automotive supplier Faurecia. The group includes the logistics company Gefco and financial services, which also continued to grow. After repaying a billion-dollar loan to the French state, the group plans to distribute a dividend again for the past year. A proposal will be made to the Annual General Meeting of EUR 1.1 per share.
PSA reiterated its outlook that the auto division should grow this year compared to the previous year. The delivery problems due to production downtimes at Japanese electronics suppliers are also causing problems for PSA. In the first half of the year alone, this should reduce the operating profit in the auto business by 150 million euros. The full extent cannot yet be estimated. This is only possible when the production of the suppliers has normalized again, said the French.
Electric car delivery stalls
But the actual car delivery is also stalling. Fewer Peugeot iOn from Japan are expected than ordered. In Germany alone, 800 units should be sold this year. The contracts have been signed, but extradition is difficult, they say. Like the C-Zero, the iOn is an identical electric vehicle to the Mitsubishi i-MIEV and is manufactured in Japan. (AG / dpa)