Peugeot posts impressive mid term financial report  

The PSA Group owners of Peugeot brand of vehicles posted a group revenue that amounted to €27,779 million in the first half of 2016, with the group’s automotive  division revenue amounting to €19.190 million up by 2.5 percent compared to the first half of 2015.This was attributable to success of the car models and pricing power strategy.

Peugeot outlined plans to return to consistent sales growth as the French car maker seeks to build on its recovery from near bankruptcy to healthy profit. Total inventory including independent dealers worldwide sales stood at 399,000 vehicles at June 30, 2016, up 8,000 units from end June 2015. Net financial position as at June 30, 2016 was €5,972 million up €1,412million on 31st Dec 2015. With Global market outlook for 2016,automotive market expected grow by 4% in Europe and 8% in China.

The French car maker aims to step up model launches to introduce new vehicles each year in what the Chief Executive of PSA Group, Carlos Tavases describes as a “global product and technology offensive”. In a related development, Ibrahim Boyi, managing director and chief executive of PAN Nigeria Limited assemblers of Peugeot brand of vehicles in Nigeria, has reiterated the company’s operative strategy of dealership expansion base and to maintain its leadership position in the Nigeria Automobile market.

In his words, ”we are enjoying  good patronage in Nigeria with large orders from government and the organised private sectors, particularly the 301, 508, models.We plan to introduce the Peugeot 2008 model later in the year. We have built a history with the assurance of good products, good after-sales services, affordable ownership cost that is positioning Peugeot to regain its leadership position”.

Mike Ochonma