PSA's Q3 revenue exceeds €11.9 bln, up 1.2% YoY

IIA learned from PSA Group that the overall operating income of the automaker in the third quarter of 2020 was 15.453 billion euros, while the figure for the same period in 2019 was 15.579 billion euros. The Group's automotive business revenue reached 11.964 billion euros, an increase of 1.2% compared to the same period in 2019.

The group sold 589,000 vehicles in the third quarter of 2020. As of September 30, the total inventory including independent dealers and importer inventories remained at 428,000 units, a decrease of 26% compared with the same period in 2019. Among them, Faurecia's operating income was 3.874 billion euros, a year-on-year decrease of 7.4%.

Previously, FCA and PSA Group have signed a 50:50 ratio to establish the Stellattis Group. The directors of both parties agreed to allow PSA Group to sell up to approximately 7% of Faurecia's outstanding share capital before the merger is completed.

In terms of products, PSA Group also released Peugeot 208, Peugeot 2008, Opel/Vauxhall Corsa pure electric and fuel version models. In addition, Citroen also released the C5 Aircross PHEV. According to the PSA plan, the two brands of Shenlong Automobile will be fully electrified one after another. Among them, Dongfeng Peugeot will provide fuel and new energy power versions for all models on sale by 2023. Dongfeng Citroen will achieve 100% electrification of all products by 2025.