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French carmaker PSA released its third-quarter marketing report, according to its data, PSA Group achieved revenue of 15.579 billion euros in the third quarter of this year, up 1 per cent from a year earlier. The automotive business units (Peugeot, Citroen, DS, Opel and Vauxhall) posted revenue of 11.824 billion euros in the third quarter of this year, up 0.1% from a year earlier, while PSA Group reported revenue of 53.918 billion euros in the first three quarters, down 0.2% from a year earlier. Revenue from the automotive business unit fell 0.7 per cent to 42.202 billion euros.

According to statistics, PSA sold a total of 674000 cars in the third quarter, down 4% from the same period last year. Sales declined in all major markets, with sales in Europe falling 2.7 per cent to 569000, while those in China and Southeast Asia were 29000, down 40.1 per cent from a year earlier.

PSA said in the announcement that positive growth was achieved under adverse circumstances such as declining sales and exchange rate fluctuations in the third quarter, mainly due to the launch of the group's latest series of products, especially the Citroen C5 Aircross. Peugeot 508 ds3 Crossback, Opel and Vauxhall Combo models and favorable price factors significantly offset many unfavorable factors, leading to an improvement in its product portfolio.

The PSA Group has also made corresponding expectations for the future, with the overall European car market falling by 1 per cent in 2019, Latin America and Russia by 5 per cent and Russia as a whole by 2 per cent, with the largest adjustment of 7 per cent in China.

It is worth mentioning that due to the poor sales of Shenlong Motor, a joint venture between PSA and Dongfeng Motor, a "yuan" revival plan was released last month, hoping to realize the revival of DPCA through the efforts of Peiyuan, Guyuan and Tuoyuan. This month, the two major brands of Citroen Peugeot and Citroen are sold together to improve the efficiency of the dealer network. But according to sales figures released by Dongfeng Motor, DPCA sold only 10,000 vehicles in September, down 42.9% from a year earlier. It seems that the "yuan" plan and brand sales can not promote the growth of sales.

In addition to sluggish sales, the EU is about to implement stricter emissions methods is also a problem that PSA Group will soon face. PSA said in August that all passenger models under the Peugeot, Citroen, DS, Opel and Vauxhall brands met the new Euro 6 emission standards to avoid huge fines.

PSA is striving to meet stringent new emissions targets, investing more in cleaner models and technologies, and considering partnerships with other carmakers.

In the report, PSA also announced the current inventory situation. As of September 30, 2019, the total inventory, including independent dealers and importers, was 574000 units, down 29000 from 2018, but the inventory of independent dealers reached 367000, an increase of 13000 over the same period last year.

In addition, PSA will release its 2019 annual results on February 26th, 2020, with only the last quarter left until 2019. We all look forward to whether PSA Group can achieve better results in the fourth quarter.

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