PSA: Opel parent company creates a profit in the Corona-crisis

The Opel's parent company, Peugeot has held up despite a massive decline in Sales in the profit zone. The adjusted operating profit of the group broke in the f

PSA: Opel parent company creates a profit in the Corona-crisis

The Opel's parent company, Peugeot has held up despite a massive decline in Sales in the profit zone. The adjusted operating profit of the group broke in the first half of the year by around 85 percent to 517 million euros, as the pre-merger Fiat Chrysler's upcoming French Autoherstelleram Tuesday announced. The group's sales shrank in the same period by 34.5 percent to 25.1 billion euros.

The result is evidence of the resilience of the group after six years of intensive work to increase the agility and the lowering of the income threshold, said CEO Carlos Tavares. For the second half of the year, he announced a "robust upswing". The merger with Fiat Chrysler wants to complete in PSA, despite the concerns of EU antitrust guardians before the end of the first quarter of 2021.

As the reason for the compared to some of the competitors stable Cut, the Management called savings and a positive product mix. Behind this is a higher proportion of more profitable city is, especially all-terrain vehicles, in which PSA is well earned. The already existing target of an average operating rate of return of at least 4.5 percent for the period 2019 to 2021, affirmed the Management.

PSA Intraday

Opel chief Michael lohscheller sees the Corona of the crisis in the car industry and his company is not yet overcome. A sustainable recovery in the meantime downturn in the markets is uncertain, said the Manager on Tuesday on the occasion of the presentation of the half-year figures of the parent company, PSA. A second possible Lockdown could bring to the next is sensitive to the slump in demand and lead to interruptions of supply chains.

Opel, together with the British sister brand Vauxhall contributed in the first six months of the year 2020, in spite of Corona well over 110 million euros in operating profit. However, were sold in the half-year only 266.000 cars of the two brands, the sales decline of 53.1 percent was much stronger than for the other group brands.

Lohscheller announced to speed up the transformation of the once General motors acquired the car manufacturer. You will also tackle difficult issues, including with the representatives of the employees highly controversial restructuring of the Opel operation pensions belong. In addition, you'll reach the strict CO2 requirements of the European Union, and the policy is not a softening of climate targets ask.

Updated Date: 28 July 2020, 05:20

You need to login to comment.

Please register or login.

RELATED NEWS