By Ahmid Lawal
Abuja
The PSA Group, owners of Peugeot brand of vehicles, posted group revenue that amounted to €27,779 million in the first half of 2016; with Automotive division revenue amounting to €19.190 million up by 2.5% compared to the first half of 2015.
This was attributable to success of the car models and pricing power strategy.
Peugeot outlined plans to return to consistent sales growth as the French car maker seeks to build on it recovery from near bankruptcy to healthy profit.
Total inventory including independent dealers worldwide sales stood at 399,000 vehicles at June 30, 2016, up 8,000 units from end June 2015.
Net financial position as at 30 June 2016 was €5,972 million up €1,412million on 31st Dec 2015. With Global market outlook for 2016, automotive market expected grow by four per cent in Europe and eight per cent in China.
Peugeot aims to step up model launches to introduce new vehicles each year in what the Chief Executive of PSA Group, Carlos Tavases describes as a “global product and technology offensive”.
In a related development, Mr Ibrahim Boyi Managing Director/CEO of PAN Nigeria Limited assemblers of Peugeot brand of vehicles in Nigeria, reiterated the company’s operative strategy of dealership expansion base and to maintain it leadership position in the Nigeria Automobile market,
