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PSA revenue up 1% in Q3 despite gloomy auto market

October 23, 2019

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PARIS — PSA Group reported a rise in third-quarter revenue on strong demand for its pricier utility vehicles, but the automaker said overall vehicle sales fell, and it lowered outlook for major auto markets.

Revenue for the July to September period rose 1 percent to 15.6 billion euros ($17.3 billion), PSA said in a statement on Wednesday.

Sales of larger and more profitable utility vehicles such as the the Peugeot 508 and Citroen C5 Aircross helped to improve its product mix and offset headwinds including unfavorable currency swings, the company said.

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