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GM General Motors Company

44.84
0.37 (0.83%)
Pre Market
Last Updated: 10:16:17
Delayed by 15 minutes
Share Name Share Symbol Market Type
General Motors Company NYSE:GM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.37 0.83% 44.84 285 10:16:17

Peugeot Sales Up as Iran Boost Counters Europe, Asia Declines

13/07/2017 8:35am

Dow Jones News


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By Eric Sylvers

 

Peugeot's vehicle sales rose 2.3% to 1.6 million in the first half as a big jump in Iran helped the French car maker offset stagnant markets in Europe and Asia.

Sales in the Middle East and Africa more than tripled to 277,931 as Peugeot, officially known as Groupe PSA (UG.FR), ramped up production in Iran in the wake of a softening of western sanctions. Sales fell 1.9% in Europe, its largest market, and dropped by almost half in China and southeast Asia as the company moved forward with a reorganization in the region.

Peugeot has among the highest profit margins among European car makers and over the past several years has favored incremental gains in profitability over growth in volume. Peugeot will soon get a big boost in volume as it gets close to sealing its $2 billion acquisition of General Motors Co.'s (GM) perennially unprofitable European unit Opel.

 

-Write to Eric Sylvers at eric.sylvers@wsj.com

 

(END) Dow Jones Newswires

July 13, 2017 03:20 ET (07:20 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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