psa said its operating margin which measures underlying profit as a proportion of sales increased by 08 percentage points to 85 percent paris french car giant psa peugeotcitroen currently in the process of merging with rival fiat chrysler said wednesday it shook off a drop in sales to notch up record profits in 2019 we have achieved record results in 2019 chief executive carlos tavares said in a statement the group whose brands include opel in germany and vauxhall in britain booked bottomline net profit of 32 billion euros 35 billion last year an increase of 132 percent over the figure for 2018 advt despite a 103percent drop in unit sales to 35 million vehicles worldwide revenues inched up 10 percent to 747 billion euros psa said its operating margin which measures underlying profit as a proportion of sales increased by 08 percentage points to 85 percent in terms of vehicles sold psa suffered from its absence from the key us market and a shrinking market share in china but the group attributed the modest increase in revenues to an improved product mix and higher prices which it said helped offset negative exchange rate effects and falling volumes looking ahead to anticipated market developments in the current year psa said it forecast a decline of around 30 percent in europe but no change in latin america read alsocoronavirus impact groupe psa supplier receives force majeure slip from china government afp published on feb 26 2020 at 0129 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app groupe psa auto sales slowdown peugeot citroen vauxhall homenewsfrench carmaker psa defies sales slowdown with record profits