French automakers
The Q3 results for Peugeot and Renault have been released, and show
that the captive arms of both French manufacturers have improved
their results year on year.
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Peugeot’s finance arm Banque PSA Finance reported revenues of €498m
in Q3 2007, compared with €444m in Q3 2006 – a rise of 12.2 per
cent. Outstandings as of September 30 2007 rose to €23.2bn, up 4
per cent on a year ago. Originations grew 2.9 per cent to 638,500
contracts.
The penetration level was broadly flat at 25.5 per cent, down
slightly from 25.8 per cent a year ago.
In total, Banque PSA Finance raked in revenues of €1.47bn in the
nine months to September 30 2007, up 13 per cent year on year from
€1.304bn as of September 30 2006.
Renault’s captive finance house, RCI Banque, meanwhile, grew its
contribution to group revenues by 14.8 per cent in Q3 2007 compared
with Q3 2006. Sales financing added €1.53bn to Renault group
revenues in the nine months to end-September 2007, up 5.4 per cent
on the first nine months of 2006, which “can be attributed chiefly
to higher income from interest and services,” Renault said.
