Bond sales by 16.9% of PSA Peugeot Citroen in the first half
Wednesday, July 7th, 2010PSA Peugeot Citroen announced a 16.9% jump in sales of vehicles in the first half, including a one-point increase its market share in Europe, which should increase over the year.
The first French car manufacturer and number two in European sales confirmed, however, anticipate a decline of about 9% of European car market, while China is expected to grow at double-digit pace in Latin America with a number.
PSA sales totaled 1.856 million units in the first half, including 1.618 million for assembled vehicles (+16.8%)
In Europe, PSA registrations rose 7.7% to 1.214 million units in the first half, giving a market share of 14.6%, up one point.
The group estimates that the global auto market grew 13% over the period, with leaps of 27% in China and 11% in Latin America contrasts with a fall of 27% in Germany, while France fared with an increase of 6%.
Automakers are preparing an overall drop in sales in the second half, with the gradual disappearance of scrap premiums and caution potential buyers respond to economic uncertainty.
In France, the new car registrations fell in May and June, marking the last stages of the effect of scrappage, reduced on 1 January 1000 to 750 euros and reduced to EUR 500 this month .
PSA, which will publish its interim results on July 28, said in April anticipate a largely positive EBIT in the first six months of the year instead of a simple return to the green before.
The group, whose sales growth has exceeded expectations in the first quarter, however, had warned that the environment might be difficult in Europe in the second half.
Renault will release its own trade performance Thursday.
PSA Action closed up 3.63% to 21.56 euros on Tuesday, giving a market capitalization of 5.05 billion euros. It lost 8.9% since the beginning of the year after surging 95% in 2009.