PSA sales resist slowdown in third quarter

Paris, Oct 23 (AFP/APP): French carmaker PSA said Wednesday healthy demand for upmarket models helped it resist a gloomy automaker environment as the stable comprising Peugeot, Citroen, DS, Opel and Vauxhall) saw third quarter sales rise 1.0 percent to 15.6 billion euros ($17.35 billion).

The rise, in line with analyst forecasts, came despite a 5.9 percent drop in overall sales to 674,000 units.

July-September sales in the group’s automotive division crept up 0.1 percent to 11.8 billion euros, below a forecast of 12.15 billion.

But PSA held the line in view of a global recession afflicting the sector to which currency swings added further negative impact.

Although notably strong sales of SUVs lifted its showing as PSA hailed a “strong product mix” which advanced 4.4 percent on demand for recent launches such as the Citroen C5 Aircross sports utility vehicle, there was bad news from China, where consolidated sales collapsed by almost half.

Sales to partners also fell, by 3.2 percent.

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