PSA Peugeot Citroën Consolidated 1998 Net Sales up 11.2% to EUR 33.8 billion (FF 221.4 billion)

February 2, 1999 - PSA Peugeot Citroën’s consolidated net sales rose by 11.2% to EUR 33,758 million (FF 221,439 million) in the year ended December 31, 1998. In 1997, pro forma consolidated net sales totaled EUR 30,345 million (FF 199,051 million), adjusted for Ecia’s January 1998 acquisition of Bertrand Faure, the full consolidation of the finance companies and the year-end 1997 changes in accounting methods.

Consolidated net sales for 1998 also reflect the acquisition of a controlling interest in Sevel Argentina, effective January 1, and the consolidation of Peugeot do Brasil, Citroën Hungaria, Peugeot Hungaria, Citroën Polska and Peugeot Polska. At constant scope of consolidation, consolidated sales increased by 9.7% from the 1997 pro forma figure.

Total sales by the Automobile Division amounted to EUR 29,270 million (FF 191,997 million), up 11.2% from the 1997 pro forma figure (9.4% at comparable scope of consolidation).

Registrations of Peugeot and Citroën passenger cars and light commercial vehicles in Western Europe increased 8.4% in 1998, in a market that expanded by 7.4%. With a 12% market share, PSA Peugeot Citroën was Europe’s second-largest manufacturer of cars and light trucks in 1998, thus confirming the excellent market response to the new Peugeot 206 compact, with 112,000 units sold, the success of the Citroën Xsara mid-size sedan, and strong performances by the Peugeot 306 and 406 sedans and the family and utility versions of the Citroën Berlingo and Peugeot Partner.

Sales of Peugeot and Citroën vehicles and parts outside Western Europe advanced 10%, thanks to increased unit sales in Central Europe (up 20%) and to a lesser extent in Latin America (up 6%) and Asia (3%).

In all, Peugeot and Citroën’s worldwide unit sales totaled 2,277,600 vehicles and CKD units, representing an 8.5% increase compared with 1997.