PARIS – The PSA Group benefited in the first part of the year even when the COVID-19 pandemic affected revenue and said a sharp uptick in sales in June lasted until July.
The general manager, Carlos Tavares, added that the order books were “excellent” at the end of the first semester.
PSA’s profitability has overshadowed that of some competitors who added the French Renault in recent quarters, with the help of more expensive models such as SUVs and crossovers.
Under Tavares, PSA remained strict about production costs, and executives said Tuesday that the operational balance point, which had reached 53%, means the company could still generate money with some of its same volume of old cars, would even decrease.by 2020.
The group’s net profit in the first part of 2020 also remained in positive territory, at 595 million euros ($698 million), with 1.830 million euros a year ago.
Reuters and Bloomberg contributed to this report.
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