Peugeot's Sales Lifted by Higher Margin Cars
April 26 2017 - 2:42AM
Dow Jones News
By Eric Sylvers
French car maker Peugeot said Wednesday that revenue grew 4.9%
in the first quarter as sales of higher margin new cars helped
offset currency pressure.
Peugeot, which during the first quarter reached an agreement to
buy General Motors Co.'s (GM) European business, said revenue
climbed to 13.6 billion euros ($14.89 billion). Unfavorable
exchange rates were responsible for a 1% decline in sales.
The company, officially known as Group PSA (UG.FR), said it
expects the automotive market to grow by about 1% in Europe this
year. Growth in China is seen at 5% and Latin America at 2%, while
Russia is forecast to remain little changed from last year.
-Write to Eric Sylvers at eric.sylvers@wsj.com
(END) Dow Jones Newswires
April 26, 2017 02:27 ET (06:27 GMT)
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