PSA Out Of The Reds

Bertel Schmitt
by Bertel Schmitt

Remember when carmakers could only survive on government-issued life support? No more. Results season is upon us, and one by one, carmakers surprise with fat profits. Today: France’s PSA. After showing a loss of €1.161 billion ($ 1.583 billion) in 2009, PSA turned the tables and produced a gain of €1.134 billion ($ 1.546 billion) for 2010. PSA is relatively weak in China, but their 50 percent share from the China joint venture added €159 million to the profits.

Bertel Schmitt
Bertel Schmitt

Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.

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