Peugeot Citroen reports sales growth, in pull away from crisis

French carmaker Peugeot Citroen, fighting its way out of crisis with a new Chinese shareholder Dongfeng, reported on Friday a rise in sales in the first quarter of this year. Sales revenue rose by 1.9 percent to 13.3 billion euros ($18.4 billion), despite unfavourable exchange rates, and the number of vehicles sold rose by 7.7 percent from the equivalent figures last year. The number of vehicles sold totalled 726,000, with a boost from the group's two main markets in Europe and in China. PSA Peugeot Citroen said that it had raised sales in Europe by 16.0 percent and in China by 18.3 percent. But sales fell in Russia and in Latin America. The group estimated that this year the European market, pulling away from a deep downturn, would grow by about 3.0 percent, and that the Chinese market would rise by 10 percent. But the Latin American market would shrink by 7.0 percent and the Russian market by 5.0 percent.