Peugeot raises earnings forecast

Posted on November 13th, 2009 by News in Manufacturers, News

Peugeot Citroen, Europe’s second-biggest carmaker, has raised its earnings forecast for 2009 on the back a revival in the car market.

The news comes a month after the firm reported lower-than-forecast third-quarter sales, down 7.7% on 2008.

Peugeot said: “The group’s production and sales performance is significantly stronger than forecast.”

Shares in the firm rose 4% on the French stock market, with peer Renault also ahead by 3% on the news.

The group predicted fourth-quarter output would be 30% higher than the same period last year, and 17% higher than in the third quarter.

The firm put its more upbeat outlook down to “recent improvement in the automobile market and the ongoing success of the new Peugeot and Citroen models”.

Analyst Adam Jonas at Morgan Stanley said that Peugeot had previously put out the “most conservative second-half guidance of any European [carmaker] this year”.

Government schemes to encourage car purchases have boosted car sales in Europe and the US, but there are fears that demand will fall again when this support is withdrawn.

Last month, Peugeot Citroen said sales in Europe were healthy thanks to these various government-backed scrappage schemes, but that this had been offset by sales falls in Russia and Latin America.

Source: BBC News

Bookmark and Share


Buying A New Car? The Motor Trade Insider Guide To Buying New Cars >>>Click Here<<<



Blogging and Social Media Services for the Automotive Industry


  • Suzuki triples profits forecast
    Japanese carmaker Suzuki Motor has tripled its forecast for full year operating profit, after reporting better-than-expected six-month figures. Its strength in [...]...
  • Peugeot-Citroen third quarter sales disappoint
    Shares in Peugeot Citroen, Europe’s second-biggest carmaker, have fallen 7% after the company reported lower-than-forecast third-quarter sales. Sales fell 7.7% from [...]...
  • Massive loss for Peugeot Citroen in first 6 months of 2009
    France’s biggest carmaker, PSA Peugeot Citroen, has reported a six-month loss after its sales fell by more than a fifth [...]...
  • Peugeot Citroen global sales down 14 percent
    PSA Peugeot Citroen says it sold 14 per cent fewer vehicles in the first six months of 2009 than in [...]...
  • PSA Peugeot Citroen sack their boss too
    France’s biggest carmaker PSA Peugeot Citroen has sacked its chairman Christian Streiff after a little over two years in the [...]...
  • Peugeot Citroen to cut 11,000 jobs
    France’s biggest carmaker, Peugeot Citroen, has announced it will slash more than 11,000 jobs in 2009, starting with European plants [...]...

    • Leave a Reply

    Motor Industry News

    About MTI

    Motor Trade Insider
    Our aims:
    Build a bridge between consumers and the trade.

    Create Interesting and informative content.

    Break down barriers and create better understanding.

    Expose bad practices and rip-offs.

    Promote outstanding products and services.

    Motor Trade Insider is written by people working actively in the motor trade for people on the inside and people on the outside.

    Motor Trade Insider – Your Friend in the Trade. New Car Buying, Used Car Buying, Used Car Prices, Used Car Values UK. Car buying guide whether you’re buying a new car or interested in used cars or just general info and advice on the motor trade.

    Valid CSS!

    Valid XHTML 1.0 Transitional

    [Valid RSS]

    Bargain of the Week

    Bargain of the Week – Buying a Supercar – part one

    Bargain of the Week – Buying a Supercar – part one

    Nine are still in yet calling the shots on who has it when is still to be decided, and there's still one (me) who has ...

    Bargain of the Week – Mini Cooper

    Insurance wise, better to choose the Mini One, but stretch your budget ever so slightly and pick the 1.6 Cooper. Not because of the famous ...

    Bargain of the Week – Porsche Cayenne S

    Considering you can buy an equivalent 4x4 with barely any badge status, having a Cayenne on your driveway will certainly perk the interest of your ...

    Scrappage

    Scrappage scheme ends, hard work begins

    Scrappage scheme ends, hard work begins

    I think that scrappage was exactly the shot in the arm the business needed and should be acknowledged as that, it’s now back to hard ...

    Car Makers Premier League – February 2010

    With the scheme’s official end date being the 31st March we are now in the scrappage end game so it will be very interesting to ...

    Scrappage scheme enters final stage

    The final phase of the Government's scrappage scheme began yesterday (Wednesday 24th February). Car manufacturers have been allocated shares of about 50,000 potential further orders based ...