HomeAutoGroupe PSA captures 11.6% market share in Africa, sees revenue rise by...

Groupe PSA captures 11.6% market share in Africa, sees revenue rise by 20.7% overall

Jumia Black Friday Deals

Groupe PSA captures 11.6% market share in Africa, sees revenue rise by 20.7% overall

Groupe PSA – the brand that is behind the likes of OPEL Omega and Citroen – has posted its earnings for the year 2017, and they would hope to keep soaring in this new way. According to the data released by the company, the internal revenue has climbed a massive 20.7% as compared to what was obtainable in the year 2016.

While the company has been able to record a larger percentage of their sales in the European markets, they also have the Middle Eastern and African markets to thank for this massive upwards trend.

Speaking on the new, impressive statistics, the Chairman of the Groupe PSA Managing Board, Carlos Tavares, said

Our agile, customer focused and socially responsible approach is making the difference.

A lot of the success that Groupe PSA has recorded can be attributed to a series of executive decisions that they have made over time. The Groupe was able to bear the effect of negative exchange rates by releasing new models that more than compensated for their losses.

They then went on to initiate a product mix and various cost reduction strategies which saw them keep their heads above water even when the prices of raw materials were further going up through the roof.

Groupe PSA captures 11.6% market share in Africa, sees revenue rise by 20.7% overall

In the African markets, Groupe PSA proudly sold a massive 618,800 units. The OPEL brand was well represented, taking no less than 26,800 of the total number. That ensures the brand can now lay claim to a market share of 11.7% while still gunning for their goal of selling 700,000 units in the region by 2021.

At this rate, and with the expert management the company is under right now, that doesn’t seem like such a fleeting idea.

To further cement its drive, car manufacturing plants have been set up in each of Morocco, Kenya and Ethiopia. Still expanding its base, pen has been put to a contract that would see one of such local manufacturing points spring up in Oran of Algeria.

Latest articles

Best October Prime Day Deals: Early Deals

Prepare yourselves, deal-hunters, the second Prime Day event of the year is here. The...

Umidigi Deals on AliExpress 828 Mega Brands Sale

AliExpress 828 Mega Brands Sale of the year is now live. From August 21...

UMIDIGI A15 Series and G5 Series launches Third Quarter

The UMIDIGI A15 Series and the G5 Series are scheduled for an official launch...

Umidigi A15, A15C launches on AliExpress 828 Brands Sale with Giveaway

UMIDIGI has a big announcement as they are about to kick start the worldwide...

More like this

Businesses Can now Save More with Bolt Special Ride Offering

Bolt, a leading ride-hailing service provider, is committed to building a sustainable city by...

MAX, a bike hailing service mentions how it’s keeping the business afloat despite the Lagos Okada ban.

Metro African Express (MAX) started operations as a logistics firm before it expanded into...

Uber blames self-driving car accident that killed a pedestrian on software failure

About 2 months ago, Uber suspended its Self-Driving program after one of its self-driving...