Contrasting fortunes for Citroën and Volvo

Two major car brands last year recorded contrasting fortunes here, with Citroën enjoying increased profits, while rival Volvo saw profits almost halving.

According to accounts filed by Citroën Motors Ireland Ltd, pre-tax profits rose by 8% to €142,000 as revenues climbed by 8.5% from €26.4m to €28.69m in the 12 months to the end of December last.

This is in contrast to figures lodged by Volvo Car Ireland Ltd, that show pre- tax profits fell by 45% from €239,370 to €132,218 as revenues fell by 17.5% to €21.38m.