Automobile Division sales rose 26.1% from the year-earlier period to euros 9,965 million (FRF 65,369 million).

Worldwide sales of Peugeot and Citroën passenger cars and CKD units increased 21.1% to 750,300 units, with Peugeot sales up 18.3% and Citroën sales up 25.1%. This performance reflects the continued success of the Peugeot 206, Peugeot 406, Citroën Berlingo and Peugeot Partner, as well as strong initial demand for the Citroën Xsara Picasso introduced in January. In a western European market that grew by 4.1%, sales of Group cars and light commercial vehicles rose by 17.9% to 649,100 units. Outside western Europe, sales totaled 101,200 units. This represents a gain of 46.6% from the year-earlier period, which was heavily affected by the economic slowdown in a number of key markets.

The Automotive Equipment business increased its sales to outside companies by 42.4% during the period, to euros 1,039 million (FRF 6,816 million). This growth reflects the December 1999 acquisition of AP Automotive Holding Inc. At comparable scope of consolidation, sales rose 17%.

The contribution of the Transportation business rose by 70.3% to euros 243 million (FRF 1,591 million), taking into account the acquisition of a controlling interest in KN Elan, the German transportation and logistics subsidiary of Kühne & Nagel. At comparable scope of consolidation, Transportation sales rose by 11.5%.

Revenues from the finance companies, which mainly consist of interest on the financing of sales, increased by 10.3% to euros 283 million (FRF 1,858 million). Banque PSA Finance had total outstandings of euros 13.6 billion (FRF 89.6 billion) at March 31, 2000, up 21% from the year before.

The contribution of the other businesses declined by 13.8% to euros 111 million (FRF 726 million). Excluding the first-quarter 1999 sales of SAMM and La Publicité Française, which were sold in 1999, the contribution decreased by 2.1% due to smaller delivery volumes at PCI.

(April 28, 2000)