PARIS -- PSA/Peugeot-Citroen's deliveries rose for the first time in four years in 2014 as the automaker benefited from a surge in China and recovering demand in Europe.
The automaker's global sales increased 4 percent to 2.94 million from 2.82 million a year earlier, boosted by demand for the Peugeot 2008 and 3008 crossovers as well as the 308 hatchback, PSA said in a statement today.
Global sales of Peugeot-branded cars increased 6 percent, and Citroen registrations climbed 7 percent.
The 2.94 million global volume is still about 18 percent lower than in 2010, when PSA, Europe's second-biggest carmaker after Volkswagen, reported its last full-year growth with record sales of 3.6 million autos.
Group sales in Europe rose 8 percent to 1.76 million units, helped by the successes of the Peugeot 308, voted 2014 European Car of the Year, and the Citroen C4 Cactus, which "has exceeded objectives" since its launch in 2014, PSA said.
"The figures look OK," Sascha Gommel, an analyst at Commerzbank, said. "It's not so much the volume growth that's important for Peugeot right now" as the company pushes to charge more for its cars. "The pricing improvement may play a much more important role."
PSA's sales in China increased 32 percent to 734,000 vehicles last year, lifting its market share to 4.4 percent from 3.6 percent in 2013. China replaced France as the company's biggest market.