3/3, 8:44 AM (Source: TeleTrader)
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PSA posts Q4 revenue at €61B, down 19% YoY

Groupe PSA reported on Wednesday its revenue in the fourth quarter of 2020 fell 19% on a yearly basis to €60.73 billion. Automotive revenue at €47.61 billion, also dropping 19%. Consolidated net income tumbled 44% year-on-year to €2.02 billion.

The automaker sold 2.51 million vehicles worldwide, a 28% decrease compared to the prior year. Europe saw the biggest decline in sales, with customers purchasing 30% fewer cars than in 2019, while the Middle East and Africa saw a sales increase of 20%. Total inventory, including independent dealers, was down 19% at 493,000.

"Groupe PSA sustainable financial results represent a key contribution to Stellantis launch, aiming at providing a clean, safe and affordable mobility as well as added value to all its external stakeholders and employees," Stellantis CEO Carlos Tavares said.

Breaking the News / MD