PSA: Looking for 5% margin by 2019-2023

Carlos Tavares, chairman of the PSA Peugeot Citroën managing board, says he wants a two per cent operating margin in the Automotive Division by 2018, with a target of five per cent during the next medium-term plan covering the period 2019-2023.

A major 2014-2018 “Back in the Race” roadmap unveiled today by Tavares is designed to accelerate the group’s recovery.

Nissan sales reach record high

Nissan Motor Company’s results for the year ending 31 March 2013 were: net revenue: JPY 9.63 trillion (US$ 116.16 billion, €90.17 billion); operating profit of JPY 523.5 billion (US$ 6.31 billion, €4.90 billion); ordinary profit of JPY 529.3 billion (US$ 6.38 billion, €4.96 billion); and net income of JPY 342.4 billion (US$ 4.13 billion, €3.21 billion).

In FY2012, global sales reached a record-high of 4.914 million units, up 1.4% over FY2011.  Ten new models were launched to global markets, including the new Altima in the US; Sylphy in China; and the Note in Japan.

Carlos Ghosn, Nissan president and chief executive officer, said: "Fiscal 2012 was marked by both successes and challenges for Nissan. We ended the year with a sound balance sheet, record global sales, an improved brand, and an expanded presence in critical growth markets.”