PSA’s global sales lifted by growth in Iran, Latin America

PARIS: French carmaker and Peugeot-brand owner Groupe PSA reported yesterday a 15.4% rise in its worldwide sales for 2017, as strong growth in the Middle East and Latin America helped offset difficulties in Britain and China.

Groupe PSA sold 3,632,300 vehicles worldwide in 2017, echoing a similarly robust performance from its domestic rival Renault earlier this week.

PSA said it had solid sales for its Peugeot and Citroen light commercial vehicles (LCV) in overseas markets such as the Middle East, Latin America and Asia.

“2017 was an exceptional year, with record high results for Peugeot,” said Peugeot chief executive Jean-Philippe Imparato in a statement.

Iran was a particular bright spot in the Middle East, a market PSA returned to in 2016 after an international deal to lift sanctions in return for curbs on Tehran’s nuclear activities.

In China sales fell, though the company pointed to signs of a recovery after July.

PSA said it increased its market share in all of its main European countries, apart from the United Kingdom, where the company is grappling with difficulties at the Opel-Vauxhall business which PSA acquired last year.

Renault said on Monday that the overall group sold 3.76 million vehicles in 2017, up 8.5% from the previous year, with record sales levels for its Renault and Dacia brands.