PSA Out Of The Reds
February 9th, 2011 12:09 PM
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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.
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€159 ? Do you mean 159 millions? 159 thousands? Because €159 is not much.