PSA Group 2016 sales rise 5.8 percent, boosted by Iran and recovery in Europe

Reuters– French carmaker PSA Group (PEUP.PA) said global vehicle deliveries rose by 5.8 percent last year, propelled by strong sales of its Peugeot brand in Iran and the continuation of the European auto market’s recovery.

PSA’s global sales volume rose to 3.146 million vehicles in 2016 from 2.972 million the previous year, the Paris-based company said in a statement on Wednesday.

The 2016 sales growth represents PSA’s best yearly performance since 2010, making it cross the 3 million-vehicle threshold for the first time since 2011.

Sales rose 3.56 percent in Europe and surged 112.8 percent in the Middle East and Africa region, as the Peugeot brand benefited from the lifting of international sanctions on Iran.

Sales dropped by 15.98 percent in China and Southeast Asia and by 12.58 percent in Eurasia, which comprises Russia.

(Reporting by Mathieu Rosemain and Gilles Guillaume; Editing by Sudip Kar-Gupta)