PARIS (dpa-AFX) - French car maker PSA Peugeot Citroën (PEUGF.PK) reported a 5.4% growth in worldwide unit sales, driven by strong increases in China and Europe.
In the third quarter of 2014, sales of assembled vehicles went up by 5.4% to 643,598 units from the prior-year period, with a significant growth in Europe and very strong increase in Asia by 44.4%. On the other hand, unit sales decreased in other regions, impacted mainly by a sharp decline in demand.
Over the period, the European market expanded by 5.8%, with certain countries experiencing strong growth and the French MARKET that was almost stable.
Looking ahead to 2014, PSA Peugeot Citroën anticipates to see automotive demand increase by around 4 to 5 % in Europe and by nearly 10% in China, but decline by some 10% in Latin America and around 15% in Russia. Also, it targets for recurring positive Group operating free cash flow4 by 2016 at the latest, and an aggregate 2 billion euros in Group operating free cash flow over the 2016-2018 period.
Further, it aims for an operating margin of 2% in 2018 in the Automotive unit, with the goal of reaching 5% over the period of the next medium-term plan, covering 2019-2023.
Copyright RTT News/dpa-AFX