Peugeot maker PSA Group has been the best of a bad bunch among European carmakers. Read LiamWardProud's view to find out why:
Peugeot maker PSA Group on Feb. 26 reported 74 billion euros of revenue for 2018 and operating profit of 5.7 billion euros, implying a 7.7 percent margin. Analysts had expected sales of almost 75 billion euros and 5.6 billion euros of operating profit, based on a poll for Reuters.
The French auto group also said that its targeted 4.5 percent operating margin for 2019 to 2021 will now include the less-profitable Opel-Vauxhall division, effectively raising the goal. Chief Executive Carlos Tavares wants to boost the carmaker’s sales outside Europe by 50 percent by 2021. He plans to take Peugeot into North America, Citroen into India and Opel into Russia.
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