Reporting "Asre Khodro", After only announcing production numbers earlier this month, PSA now says operating income rose to €۲.۰۴ billion ($۲.۳۷ billion) from €۱.۸۳ billion a year earlier, according to a press release from the firm.
Overall revenues increased ۴.۹% to €۲۹.۲ billion in the first half of ۲۰۱۷.
According to the worldwide sales report, PSA said ۸۶,۰۶۴ Peugeot ۲۰۶s were produced in H۱, an increase of ۱۲۴۳.۳% y/y. Iran is the only country which continues to make this model.
This is while the three-decade old Peugeot ۴۰۵ saw production skyrocket to ۱۲۱,۸۶۹ units advancing sales ۱۶۵۵.۸% y/y, the company said. Again Iran continues to build the ۴۰۵ model, while all other markets have ceased production.
Numbers show that Iran continues to play a major role advancing PSA sales with ۲۰۷,۹۰۰ vehicles sold in the country in H۱ — a ۲.۳% growth y/y.
Peugeot ۲۰۰۸ Flops Internationally
Meanwhile, the much flaunted (by IKCO) ۲۰۰۸ model has seen overall global sales sink to ۱۲۰,۲۸۴ units down ۱۰.۲% y/y. That model is to begin mass production in Iran but has faced several delays.
Another car not available in Iran, has also seen its sales increase significantly. The Peugeot ۴۰۰۸ crossover sales in the first half of this year reached ۲۱,۱۱۲, up ۱۳۷۵% y/y.
Of the all types of fuel cars, the only models that saw growth have been those burning gasoline. The company sold ۸۹۶,۵۵۲ units of gasoline cars, a ۹.۵% growth.
The jump in revenue and profits was a high note for the firm with Chief Financial Officer Jean-Baptiste de Chatillon saying “We improved the performance of all our divisions.”
He said despite poor sales in China, other regions [Iran] have helped boost profits for the firm.
The CFO did not name Iran directly, but previous reports clearly show the Iranian market has helped the company in the first half year taking over ۷۴.۷% of overall MENA sales.
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Besides the Iran boost, Chief Executive Officer Carlos Tavares is counting on new models, international expansion and the acquisition of Opel and Vauxhall to help the firm grow.
The company confirmed that it is targeting operating margin of more than ۴.۵% on average over the ۲۰۱۶-۲۰۱۸ period and over ۶% by ۲۰۲۱, while revenues would grow by ۱۰% between ۲۰۱۵ and ۲۰۱۸, with an additional ۱۵% by ۲۰۲۱.
PSA’s reemergence in Iran has seen the company create new joint ventures on the back of its former deals with Iran Khodro and SAIPA groups.
New projects include IKAP, which recently started local production of the Peugeot ۲۰۰۸ and import of completely built units of sale of the ۳۰۱ and ۵۰۸ models.
PSA’s Citroen also reached an agreement with SAIPA, Iran’s second automaker, in ۲۰۱۶ on a framework deal to produce and sell vehicles.
Based on the deal, the Paris-based carmaker will invest €۳۰۰ million ($۳۳۰ million) over five years for the development and production of three Citroen models, planned to be sold via an exclusive deal.
The Citroen C۳, C۴ and other smaller models are expected to be the first to rollout of the production lines.
Source: financialtribune.com
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