Iran car sales keep PSA on growth track

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 per cent.
On a comparable basis, without the integration of the Iranian contribution, the figure dropped by 2 per cent 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 saw a rise of 12.3 per cent in sales thanks to Iran, but a fall of 1.4 per cent without the Iranian turnover. — Reuters