Carbon test

1 March 2018 By Liam Proud Follow @liamwardproud

The French carmaker’s main brands hit a record operating margin last year thanks to a hot new SUV. But plans to revive its loss-making Opel unit look optimistic given carbon emission fines and a row with former owner GM. Boss Carlos Tavares needs to drum up more cost savings.

This content is for Subscribers only

Context News

French carmaker PSA Group on March 1 reported revenue of 65.2 billion euros in 2017, up 13 percent from the year before after adjusting for currency fluctuations, acquisitions and disposals.

The Peugeot and Citroën parent, which bought General Motors’ European business Opel Vauxhall last year, reported a group operating income of 4 billion euros. Almost 3 billion euros of that came from the division housing the main Peugeot and Citroën brands, which reported a record 7.3 percent operating margin.

Opel Vauxhall, consolidated since Aug. 1 2017, made an operating loss of 179 million euros from 7.2 billion euros of revenue.

PSA shares were up 6.15 percent to 19.76 euros at 1539 GMT on 1 March.

Email a friend

Please complete the form below.

Required fields *