Banque PSA Finance, the financial services division of PSA
Peugeot Citroën reported a 10.3 per cent rise in net sales to €524m
(£413m) in the first quarter ended March compared with the same
period a year ago.
The division posted the highest year-on-year growth in net sales
for the group which reported total sales of €15.2bn (£12bn) against
€14.9bn (£11.8bn) the year before. Peugeot attributed the strong
performance of its financial services division to the increase in
average interest rates and total outstanding loans.
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The automotive division, which reported the highest revenue
contribution, turned in €11.9bn (£9.4bn) in sales, up 2.1 per cent
from the previous year. Total vehicle and completely knocked-down
sales rose 6.1 per cent to 876,400 units.
Peugeot is expected to release a significant number of new
models into the market in the second quarter. It reaffirmed its
worldwide sales target of 5 per cent in volume growth for 2008.
Motor Finance Issue: 43 – May 08
Published for the web: May 23 08 15:58
Last Updated: May 23 08 15:59
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