Net income of PSA rises 79%

The PSA Group, France’s largest automaker, said that its net income rose by 79 percent to 2.14 billion euros ($2.25 billion) last year, thanks to the recovery in global demand. The French company’s revenues increased by 2.1 percent to 54.03 billion euros in 2016, after selling 5.8 percent more units around the world to 3.15 million vehicles, PSA said in a statement.