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The Frankfurt Motor Show is considered as one of the major auto shows, not just in Europe, but also in the world. Despite being one of the biggest events in the auto industry, the Frankfurt Motor Show will be missing at least nine major auto brands when it opens its latest edition in September 2017.
All German brands – volume or premium marques – are expected to be on full force on what is considered as one of the major shows in their home country. Sadly, though, two of PSA Group’s brands won’t take part in the 2017 edition of the show. While PSA Group has just reached an agreement to acquire German brand Opel – and its twin Vauxhall marque -- from General Motors, it has decided not to field any vehicles from its Peugeot and DS brands. However, PSA Group’s Citroen brand will be going to Frankfurt in September, since the marque is supporting a product launch, according to a spokesman from the French manufacturer.
Also skipping the 2017 Frankfurt Motor Show are three brands from Italian-American carmaker Fiat Chrysler Automobiles. Italian brands Fiat and Alfa Romeo as well as American brand Jeep won’t show their wares at Frankfurt this year.Read the entire article Fiat, PSA, Infiniti and Nissan will skip the 2017 Frankfurt Motor Show
PSA Group - the French automotive manufacturer who gave us Peugeots and Citroens automobiles, is seeking to establish a stronghold to the US Market, and naming the former TrueCar and Nissan Exec Larry Dominique to lead its conquest.
There has been several news in the past that mentions PSA Group's plan of expanding to the US, but it seems this time, it is for real. PSA's affinity for the US all started around 1960 when the Peugeot 404 sedan was made available to the public, and was followed by 504. The last vehicles that Peugeot released in the US were the squared styled, rear wheel drive 505 saloon and its wagon counterpart, and the front wheel drive 405 that has been made in both body styles.
Citroen also departed from USA as early as 1974, with chosen automobiles being shipped via specialist importers. The last offering of PSA Group is the DS Automobiles which is viewed as the store version of Citroen, a Lexus/Infiniti-ish offering that ranges from city hatches to midsize cars. Only recently, PSA obtained Opel- another auto manufacturer who has been long gone from US.Read the entire article Former Nissan Exec tapped to lead PSA comeback in US
PSA seems very confident about conquering the world. The purchase of Opel/Vauxhall for €2.2 billion ($2.3B) from General Motors makes PSA the second largest car company, just behind the Volkswagen Group, but taking over Renault-Nissan’s spot.
Jean-Philippe Peugeot, a family shareholder of PSA, said that they have already discussed a potential acquisition of Opel back in 2012, as early as when the General Motors made a deal with the French company. However, it was not the right time for the marriage of both companies so they waited until this year to announce their plan to the public. He also added in his interview with a German newspaper that PSA wants to go global in the coming years. Thus, the goal was set to “conquer the rest of the world step by step”.
The acquisition includes: Opel/Vauxhall’s automotive operations, the brands they carry, assembly and component manufacturing facilities, an engineering center in Deutschland, and all their employees. Now that Opel is part of the PSA group. It is a big help for the company’s plan to achieve important economies of scale, and this means manufacturing at least three million cars for a core market. Robert Peugeot (Chairman of the PSA Group’s strategy committee) further explained himself and said that “all large carmakers have a volume of three million cars in one important market.Read the entire article PSA-Opel marriage sets out to conquer the world
Now, it has been signed. Discussions over the possible acquisition of Opel/Vauxhall from General Motors by the PSA Group have finally reached a conclusion. The parties, including international banking group BNP, have finally inked an agreement in which GM is selling both its automotive and financial operations in Europe for a whopping EUR2.2 billion (around $2.33 billion).
According to the terms of the agreement, PSA will be acquiring Opel and Vauxhall – GM’s automotive operations in Europe – for EUR1.3 billion (around $1.38 billion). PSA and BNP Paribas are forming a 50-50 joint venture to acquire the European operations of GM Financial at 0.8 times of its pro forma book value or around EUR900 million (around $953 million). Thus, the transaction – the sale of Opel/Vauxhall automotive operations and GM Financial’s entire European operations – has a total value of EUR2.2 billion.
PSA’s share of the entire transaction -- Opel/Vauxhall and half of GM Financial’s European operations – will cost the French group around EUR1.75 billion (around $1.85 billion). BNP Paribas’ share of the transaction – 50 percent GM Financial’s European operations – will cost the banking group around EUR450 million (around $476 million).Read the entire article PSA Group inks deal to acquire Opel and Vauxhall from General Motors
It looks like Opel/Vauxhall will have a new owner soon. This comes as the PSA Group and General Motors are currently holding talks over the possibility of GM selling its Opel unit to the French carmaker.
The discussions were first reported by Reuters and Bloomberg News, citing sources. In a recent statement, GM confirmed that the two carmakers are exploring several strategic initiatives with the objective of improving profitability as well as operational efficiency. GM added that the discussions included a potential acquisition of Opel Vauxhall by the PSA Group. GM also noted that the carmakers have been in alliance since 2012, with the partnership covering three projects in Europe.
Selling Opel to the PSA Group wouldn’t be an easy thing to do for GM. There are quite a number of financial, industrial and political considerations that needed to be factored in. That said, both GM and PSA could also earn some benefits from such transaction.Read the entire article GM confirms holding talks to sell Opel to the PSA Group
Ford and Toyota have come together in the hopes of standardizing their vehicles’ smartphone integration system. The open-source platform is said to compete with Google Android Auto and Apple CarPlay which will be made under SDL agreement (or SmartDeviceLink Consortium to be exact). Mazda, Subaru, Suzuki and PSA Group have also joined the partnership.
Through this agreement, the automakers wish to create software that will enable them to connect the owner’s smart device to their own infotainment systems. In the meantime, they will be using Ford’s APPLINK software to develop the standardized platform so they can also take advantage of the apps currently in there such as AccuWeather, iHeartRadio, Spotify and Pandora.
APPLINK comes with many other apps and will probably include more ---just like the popular Waze app for navigation. The members strongly believe that this is their answer to Google and Apple integration. All these years, these two tech giants have dominated the scene when it comes to running your infotainment system. Ford’s software on the other hand is currently installed in more than five million vehicles.Read the entire article Automotive brands unite to develop standard smart device integration by 2018
PSA/Peugeot-Citroen is willing to enter partnerships with other automakers to spread the cost of designing and building minicars, according to PSA CEO Carlos Tavares. The company has an existing cooperation agreement with Toyota Motor Corp. – a deal that Tavares said is “moving very smoothly, very collaboratively."
He explained that he aims to sustain PSA's cost-sharing effort with Toyota in minicars. He told reporters who attended the Shanghai auto show that if there are other auto companies who want to join in and share costs, he will talk about it with partner Toyota. However, he confirms that PSA is open to being in partnership with other companies to share expenses.
Since 2005, Toyota and PSA have been producing a jointly developed minicar at their joint plant in the Czech Republic. Toyota badges this car as the Aygo, Peugeot calls it the 108, and Citroen sells it as the C1. Toyota said that this plant presently is capable of manufacturing 340,000 cars a year for all three brands.Read the entire article PSA/Peugeot-Citroen is open to team up with other automakers for minicar production
Just a year after PSA/Peugeot-Citroen launched a major turnaround plan, it has announced a plan to raise production in Europe by 10% as the market recovers and the demand for its models become stronger. The restyled Peugeot 208 subcompact and newly launched Citroen C4 Cactus crossover are two of the models that have been in demand.
From May to August, PSA will increase its output by 60,000 units. There has been an increase in European registrations that may make the recovery targets cited by CEO Carlos Tavares appear too conservative in comparison. In March 2015, the automaker’s sales increased by 8.9% while the total market experienced an 11% gain.
The mid-market brands like Peugeot and Citroen seem to have gained better footing, doing better than the plain budget cars that did well even during the downturn. In a statement, PSA announced that all three of its brands (Peugeot, Citroen and DS) will increase their volumes. Over this period, the production of the C4 Cactus in Madrid will go up by 9,000 units more.Read the entire article PSA/Peugeot-Citroen will boost European production by 10%
PSA/Peugeot-Citroen has decided to go with a French plant instead of a plant in Vigo, Spain, for its plan to expand engine production. The automaker aims to produce 200,000 more engines annually. For this project, the company chose to build the turbocharged version of a three-cylinder engine that was already being produced in the Tremery plant located in northeastern France.
This plant will have to be upgraded to accommodate the increase in production. This move is seen to protect local jobs. According to manufacturing head Yann Vincent, PSA based its decision on how the Tremery plant was able to reach competitiveness targets as well as on the unions’ concessions related to productivity.
Vincent asserted that this added production will not result in the net increase in jobs. In fact, attrition will still cut some of the plant’s workforce of 3,700 members. He added that the decision to boost domestic production had a strictly economic basis.Read the entire article PSA/Peugeot Citroen will upgrade French plant to boost engine production
PSA/Peugeot-Citroen posted EUR905 million in group operating income in 2014, a reversal from the EUR364 million in losses last year. It also managed to significantly trim its net loss to EUR555 million from EUR2.23 billion in 2013. PSA's vehicle manufacturing division managed to turn around from EUR1.04 billion loss in 2013 to a EUR63 million operating profit in 2014.
The group posted a 1-percent surge in net revenue to EUR53.6 billion in 2014, although its automotive division revenue dropped 0.9 percent to EUR36.1 billion. The carmaker said that favorable changes in the product mix and in prices offset a very negative currency effect.
PSA chief executive Carlos Tavares said in a statement that the results show that the process of rebuilding the group's financial fundamentals is underway, adding that the carmaker is ahead of its reconstruction plan. With the encouraging results, PSA is now expecting to deliver EUR4.2 billion in cumulative operating cash flow by 2017, which is more than double its earlier 2018 target.Read the entire article PSA trims annual net loss to 555 million euros in 2014
A plan by France to get rid of its policies encouraging diesel cars has met criticisms from the country’s own carmakers -- PSA/Peugeot-Citroen and Renault. French Prime Minister Manuel Valls has announced that the government will get rid of policies that have "favored the diesel engine" and will raise excise tax on diesel fuel as well as remove incentives for diesel car purchases.
PSA remarked that a change in the policy will hurt its competitiveness as it has been considered a leader in diesel technology. A spokeswoman for PSA told Automotive News Europe that diesel is a key technology to cut greenhouse gas and to fight against climate change.
She noted that the increase in excise tax on diesel will place France at a disadvantage compared with Germany. For decades, France has encouraged consumers to select diesel cars by imposing lower fuel and purchase taxes.Read the entire article PSA and Renault hits government plans to reverse diesel policy
PSA/Peugeot-Citroen posted a 1.6-percent jump in group revenues in the third quarter to EUR12.3 billion ($15.6 billion). Its core automotive division, however, logged a slight 0.8-percent dip in revenues in the quarter to EUR7.97 billion at the automotive division, despite a push on pricing. PSA said in a statement that the pricing push "only partially offset” the negative volume and currency effects.
The French carmaker said its group revenues were boosted by gains in Europe and China, which more than offset drops in Latin America and Russia. PSA said it still expects to post a positive operational cash flow by 2016. PSA Chief Financial Officer Jean-Baptiste de Chatillon even remarked that he would be "very disappointed" if the carmaker fails to achieve the goal early as this year.
PSA chief executive Carlos Tavares said in the statement that the carmaker’s “road back to a full recovery” is still long and it should remain “collectively focused on execution." The carmaker managed to log a 5.4-percent jump in global deliveries to 643,600 vehicles in the third quarter of 2014.Read the entire article PSA logs 1.6% jump in revenue in third quarter despite drop of core brand sales
Higher demand for the new Citroen C4 Cactus has prompted French carmaker PSA/Peugeot-Citroen to add extra production shifts at its Villaverde site in Spain, according to a report by La Tribuna de Automocion.
The report, citing industry sources, said that workers at PSA’s Villaverde site will work on four Saturdays during next month It added that plant manager Jose Carlos Robredo disclosed that the C4 Cactus is enjoying a great success in Europe, adding that daily production of the model would surge by around 20 percent as PSA fully rolls it out across the region.
PSA commenced selling the C4 Cactus in France in September. The C4 Cactus is aim at those who are looking for a utilitarian compact car that runs a lesser costs. It features protective panels on its doors and bumpers – dubbed as Airbumps -- that absorb small impacts.Read the entire article PSA adds shifts at Spanish site as demand for C4 Cactus spikes
It’s not the first time when we talk about a US return of Peugeot and probably will not the last. Now, the latest news about the return come from the 2014 Paris Motor Show where we found out that PSA Peugeot Citroen could re-enter the United States after 2020 with it new DS premium brand.
According to DS CEO Yves Bonnefont, the brand has a global strategy to sell DS vehicles in 200 large cities after 2020 and the list includes 30 cities in North America, while 20 are in the United States. DS CEO said that, in order to become a global premium brand, DS needs to be present in the United States.
Still, the decision to re-enter the United States market, after Peugeot pulled out in 1991, will not be taken until 2017 at the earliest, while sales will not begin until after 2020. The bad news is that DS needs to improve its models as the current lineup is not compliant with the federal standards.Read the entire article PSA Peugeot Citroen planning to re-enter U.S. market with DS premium brand
Mahindra & Mahindra Ltd. is in advanced talks to acquire the scooter business of French carmaker PSA/Peugeot-Citroen, three people privy with the matter told Bloomberg. Two of the sources said that an announcement may soon be made.
Once Mahindra acquires PSA's motorcycle unit, it would gain western scooter-making technology, allowing it to better compete against rivals Hero MotoCorp Ltd. and Honda Motor Co. in India, where scooter sales jumped 23 percent in the year ended March.
Hero and Honda Motorcycle & Scooter India Pvt. together control around two-thirds of the country’s two-wheeler market. Divesting PSA’s scooter business would be a strategic move for chief executive Carlos Tavares, as the unit has been posting losses for a decade.Read the entire article Mahindra is in talks to buy scooter business of PSA
PSA/Peugeot-Citroen managed to cut its net loss in the first half of 2014 to EUR114 million ($153 million) from EUR471 million in the same period in 2013. The French carmaker saw its operating cash flow surge to EUR1.67 billion ($2.23 billion) in the first six months of 2014 from just EUR203 million a year earlier, which could be attributed to a push by chief executive Carlos Tavares to cut vehicle inventories and get rid of supply-chain inefficiencies.
Likewise, its auto division posted its first operating profit in a while at EUR7 million, despite stiff currency headwinds. The auto division’s operating loss in the same period last year was EUR538 million.
Chief Financial Officer Jean Baptiste de Chatillon remarked that PSA’s recovery plan is already producing results on “all fronts," adding that pricing had gotten better.Read the entire article PSA cuts first-half net losses to 114 million euros
PSA/Peugeot-Citroen will commence vehicle output in Kaduna, Nigeria this year at a site operated by PAN Nigeria Ltd. The move comes after Renault-Nissan started producing cars in the country months ago. As part of the setup, PSA will ship semi-knockdown kits of the Peugeot 301 to Kaduna from its Vigo factory in Spain.
PSA said in a statement that it may add production of other models like the Peugeot 308 compact and 508 later. According to PSA’s operations director for Africa Middle East, Jean-Christophe Quemard, the move will allow the group to take full advantage of growth opportunities in the market.
In October 2013, Renault-Nissan disclosed plans to commence production in Nigeria with local partner Stallion Group and in April, the group built its first Nissan Patrol SUV at a site in Lagos.Read the entire article PSA will start production in Kaduna, Nigeria this year
PSA/Peugeot-Citroen posted a 6-percent surge in global sales in the first half of 2014 to 1.54 million vehicles, boosted by an ongoing recovery in the European market and a current expansion in China. PSA said in a statement that it posted a 28-percent jump in sales in China, where it is currently expanding production in separate joint ventures with Changan Automobile Group and shareholder Dongfeng Motor Group.
It also managed to gain market share in Europe, thanks to an onslaught of new models and recovering demand in France, Spain and the United Kingdom. Sales in the region grew 12 percent to 956,000 cars and trucks, almost doubling the market's gains.
However, the French carmaker saw sales in almost every other major market drop significantly, blaming weakening emerging-market currencies for its fate. Peugeot CEO Maxime Picat particularly blamed the “devastating” ruble-euro exchange rate.Read the entire article PSA grew 6% globally in first half of 2014 to 1.54 million vehicles
As PSA/Peugeot-Citroen aims to depart from its loss-making ways and seek profit, a revamp of its Citroen brand to have a purely frugal image will be a key. PSA is moving the brand down-market, and an evidence of it is the C4 Cactus compact car. The car boasts of weird features like bench seats and rugged-looking plastic "Airbumps" on the sides and bumpers, as developed by BASF.
The C4 Cactus presents itself as utilitarian car, drawing on the current market shift to functionality and technology. Citroen product chief Pierre Monferrini remarked that the C4 Cactus is not supposed to be a niche car, but one with broad appeal.
With Carlos Tavares sitting a chief executive of PSA, the high-end DS lineup is breaking from Citroen to become a standalone premium brand. This allows Citroen to offer budget models while the Peugeot brand takes on the mid-market.Read the entire article PSA hopes Citroen to flourish as a frugal brand
The Peugeot 807 large minivan will be phased out as part of plans by PSA/Peugeot-Citroen chief executive Carlos Tavares to dispose of unprofitable models from its product lineup. A Peugeot spokesman confirmed a report by Les Echos that the carmaker will not replace the 807 and that it would also phase out the 207 Plus.
Tavares is transforming the Peugeot brand to make it compete directly against the Volkswagen brand. He wants the brand to concentrate on smaller range to be able to command transaction prices as high as VW models. He intends to cut Peugeot’s lineup from 25 models now to 16 models by 2018 and to 13 models by 2022.
According to Les Echos, Peugeot models to be retained includes the 108 minicar; the 208 and 2008 subcompacts; the 301 sedan, 308 hatchback and wagon, the 3008, 408 and the RCZ; and the 508 and 5008 mid-sized models.Read the entire article PSA to phase out Peugeot 807 and 207 Plus
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