finance arm
Banque PSA Finance, the motor finance captive of PSA
Peugeot-Citroën, reported total revenue of €1.1bn (£830m) for H1
2008, up 8.6 per cent from the same period last year. This
corresponded mostly to gross interest income on loans.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Altogether, 444,600 retail financing contracts were written, a
figure virtually unchanged from H1 2007. New vehicle financing
increased 0.6 per cent year-on-year, reported at 345,100 units for
2008. In all, the captive financed 25.5 per cent of all Peugeot and
Citroën cars sold during the half-year, against 25.2 per cent in H1
2007.
The volume of new vehicle financing during the period rose 1.2 per
cent to €4.1bn (£3.2bn), while used vehicle financing fell 1.2 per
cent to 99,500 units. Aggregate new and used vehicle retail
financing came to €4.8bn (£3.8bn), a 0.8 per cent increase
year-on-year.
Total value of loans grew 3.8 per cent year-on-year, totalling
€24.4bn (£19.1bn) at June 30, 2008. Sales of insurance, maintenance
services, extended warranties and other finance services
contributed €79m (£62m) to revenue, an increase of 3.9 per cent on
the same period in 2007. Staff numbers crept up from 2,300 at the
end of 2007 to 2,400 as of June 30 2008.
Fred Crawley
