First Published: 2017-01-11

Business with Iran keeps PSA growth on track
PSA announces rise in 2016 car unit sales aided by post-sanctions return to business with Iran, joint ventures with Iran Khodro, Saipa, partnership with Arian Motor.
Middle East Online

Peugeot sees rise in deliveries of 5.6 percent

PARIS - PSA on Wednesday reported a rise in car unit sales for 2016 thanks to business in Iran which the carmaker is including again after the end to sanctions against Tehran.

With the integration of sales from joint ventures and licence agreements in Iran, Peugeot booked a rise in deliveries of 5.6 percent. On a comparable basis, without the integration of the Iranian contribution, the figure dropped by 2 percent from 2015.

The group's three brands Peugeot, Citroen and DS, sold just over three million cars last year, of which 233,000 were produced under licence in Iran. In 2015, the group sold 2.9 million units.

PSA's post-sanctions return to Iran resulted in joint ventures with local companies Iran Khodro and Saipa, and a partnership with Arian Motor.

These partners continued to build and sell Peugeot cars under licence for four years during the sanctions regime, but PSA did not consolidate these sales into its accounts until 2016.

The Peugeot brand, which makes up around 60 percent of the group's total, saw a rise of 12.3 percent in sales thanks to Iran, but a fall of 1.4 percent without the Iranian turnover.

Global Citroen brand sales dropped 1.7 percent and DS by 16 percent.

Sales in Iran were "the result of the good work done by the brand and the Middle East and Africa region to restart business with our colleagues in Iran", Peugeot brand director Jean-Philippe Imparato said.

Europe group director Maxime Picat told BFM Business that he was "delighted to see our Iran sales back on the books. And this is just the first stage".

The local joint ventures were "the start of a powerful push" in Iran, he said.

In Europe, PSA's main market, unit sales grew by 3.6 percent.

In China and southeast Asia, however, sales dropped by 16 percent due to "an intensely competitive environment", the company said.

In Russia, sales fell by 12.6 percent, in line with the overall car market which has suffered from the country's economic crisis.

 

Warring Syrians set for first face-to-face at Astana

Turkey moves closer to expanding Erdogan powers

IS demolishes more monuments in recaptured Palmyra

Bodies of firemen recovered from Tehran tower

Police, ruling party hit by attacks in Istanbul

Bomb kills 4 in refugee camp near Syrian border with Jordan

Egypt says political solution 'only way' for Libya ahead of talks

Turkey concedes including Assad in Syria talks

Netanyahu congratulates ‘friend’ Trump in tweet

Israel denounces Belgian plan to interrogate ex-minister

Denmark grants soldiers permission to fight IS in Syria

Car bomb near Benghazi mosque wounds 12

UN calls IS destruction of Palmyra relics ‘war crime’

Armed settlers rescued from angry Palestinian villagers

Petition filed for Israeli court to return body of Bedouin

29 Yemen rebels killed by Saudi-led air strikes

Iran losing hope of saving trapped firefighters

Algeria’s Islamist parties unite ahead of April elections

British worker dies on Qatar 2022 World Cup site

Search continues for trapped Iran firefighters

More than 40 jihadists killed in north Syria air strikes

Trump to be sworn in as 45th US president

Trump to retain envoy to anti-IS coalition

More than 20 firefighters feared dead in Tehran building collapse

Explosions in Gaza target Fatah member

UN expert tells Saudi to end ban on women driving

Desalination plant opens in Gaza to tackle water crisis

Syria’s Assad hopes rebels disarm after Astana talks

UN says 400,000 Syrian child refugees in Turkey not in school

Libya PM skips Davos to focus on electricity crisis

Greece, Cyprus insist peace deal must include Turkish withdrawal

Mistura to lead UN delegation at Astana Syria talks

Turkey slams French satire song about Istanbul attack

Saudi minister says kingdom to become ‘softer’ after reforms

Bahrain lifts ban on electronic Al-Wasat newspaper

Arab Israelis strike in protest over house demolitions

Iran sees Syria talks as opportunity to gain influence

Kuwait upholds sentence for three royals for insulting judges

Tunisia facing mounting calls against jail-for-joint law

Iran's oldest high-rise building on fire collapses

IMF says Egypt on track for next aid tranche

Bahrain police disperse Shiite protesters

Key Syria rebel group opts out of Astana peace talks

Moroccan Sufi ‘living master’ dies at 95

France says Iraqi jihadist among 2015 stadium bombers