AutoBeta(AutoBeta.net)02/28 Report--

PSA Group's global sales volume and performance continued to record high in 2018, but the Chinese market remained very tough.

PSA (Peugeot Citroen) reported 2018 revenues of 74 billion euros ($84 billion), up 19 percent year-on-year, and recurring operating profits rose 43 percent to 5.69 billion euros.($6.46 billion), operating margin of 7.7%; net profit of 3.295 billion euros ($3.74 billion), up 948 million euros from 2017, up 40.4% year-on-year; free cash flow of 3.501 billion euros ($3.98 billion).

PSA Group has five brands, Peugeot, Citroen, DS, Opel and Vauxhall. In 2018, 3.88 million vehicles were sold worldwide, up 6.8% year-on-year, achieving positive sales growth for five consecutive years. Among them, Peugeot, Citroen and DS Automobile Division's recurring operating profit rose 21.9% to 3.617 billion euros in 2018, with an operating profit margin of 8.4% a group record; while Opel Vauxhall Automobile Division's recurring operating profit was 859 million euros, with an operating profit margin of 4.7%.

In contrast, China, the world's largest market, has pushed back. PSA Group's sales in China fell by 34.2% in 2018, of which the joint venture Shenlong sold only 253,400 vehicles, down 31.88% year-on-year.

In its future plans, PSA Group will return Peugeot to North America in 2026 and publish a three-year development plan.

According to PSA's 2019-2021 plan, PSA aims to increase its sales outside Europe by 50% by 2021 and lead its brands into new markets: Peugeot in North America, Citroen in India and Opel in Russia. At the same time, continuously improve the international influence of DS brand.

Due to sales problems, PSA Group officially withdrew from the North American market in 1991. CEO Tang Weishi revealed that Peugeot's vehicles for the US market will initially come from Europe and China. According to the plan, Peugeot brand will officially sell cars in the United States in 2026.

PSA will also accelerate its energy transition, aiming to electrify 50% of its products by 2021 and its entire product portfolio by 2025.

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