TomTom inks deal to supply PSA/Peugeot-Citroen with digital maps

Article by Anita Panait, on July 27, 2012

Dutch navigation device maker TomTom has reached an agreement to supply PSA/Peugeot-Citroen with digital maps and other higher-margin services, as part of its effort to offset the dwindling consumer sales of its personal navigation devices (PNDs). According to TomTom, the supply agreement would result in having its maps, navigation and traffic services offered in up to 2.5 million Peugeot- and Citroen-brand cars annually, starting in 2015.

The supply deal came as PSA continued its loss-making ways, forcing it to make plans to lay off 8,000 employees and to close down a manufacturing plant. PSA posted a 13-percent drop in sales in the first half of 2012 to 1.62 million vehicles, as the carmaker’s share of the European market continues to be chipped away by rivals like Volkswagen and Hyundai-Kia.

TomTom, on the other hand, attributed the decline in sales of its PNDs to the increasing popularity of smartphones and free navigation software. The navigation device maker likewise faces stiff competition from rivals Garmin for the PND market and from Google and Nokia for the commercial digital map market. The news of the deal with PSA sent TomTom’s shares surging up 10.6 percent.

Topics: psa, peugeot, citroen

If you liked the article, share on:

Comments

Recommended

One of the executives at Volkswagen tagged in the so-called Dieselgate scandal has pleaded not guilty to a list of allegations surrounding the carmaker’s actions to cheat emissions regulations in...
by - February 27, 2017
When the Crown De Luxe saloon was first released in 1972, it was at that time the most lavish Toyota model available to British customers. Both unusual and exclusive, one...
by - February 27, 2017
The ride-sharing fleet of sharing Lyft Inc. will soon include thousands of specially fitted self-driving Chevrolet Bolt electric vehicles, courtesy of General Motors. If plans push through, Lyft’s clients would...
by - February 27, 2017
J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries