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PSA posts increased turnover

PSA Peugeot Citroen has announced its financial results for Q1 2008, showing a 2.4% increase in the turnover of its automotive division to €11,869m (£9,482m) compared to 2007.

Unit sales dropped 0.9% in a European market down 2.9%, and the group's market share slipped slightly from 14.2% to 14%.

The figures reflect mixed fortunes across the region, with Western European sales down 5,200 units against a 1,700 increase in Eastern Europe, but the group said turnover of its automotive division had met expectations.

In Europe, its strongest performance was in the commercial vehicle sector. A revised range, spearheaded by the new Nemo and Bipper models, has meant a 10.3% increase in sales (11,300 units) across Europe and market share up 0.6pts to 19.6%.

Positive results are expected for Q2, with the launch of the Peugeot 308 SW and Partner, new Citroen C5, and Berlingo, as well as the restyled C3 in Mercosur and C-Elysée in China.

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