MONTEVIDEO, Uruguay--(BUSINESS WIRE)--Regulatory News:
Leader in the commercial vehicle market in Europe with 21.3% market share at end February 2017, PSA Group (Paris:UG) is currently rolling out its LCV sales offering in Latin America.
The Group will launch 16 new models in the region by 2021, including several commercial vehicles, such as the new Peugeot Expert and Citroën Jumpy. The very promising LCV segment in these markets - with a potential of one million vehicles per year - represents an opportunity to boost the Group's growth in Latin America.
In 2016, PSA Group implemented a regional structure dedicated to the LCV segment to offer competitive products adapted to uses as well as high quality services for our professional customers, both during and after the sale. By assembling vehicles in Uruguay, close to our target markets, we will be able to propose a new competitive offering to our customers.
Carlos Tavares declared: “PSA Group has achieved an impressive recovery in the region over the last few years and this partnership fits into the Core Model Strategy of the Push to Pass Plan. It illustrates the relevant business model that the Group has developed in Latin America for profitable growth.”
EASA comprises the Afsa and Oversil companies, respectively brand importers for Peugeot (since 1950) and Citroën (since 1964) in Uruguay. Nordex has a long tradition of vehicle manufacturing in Uruguay, notably for PSA Group.
About PSA Group
With sales and revenue of €54 billion in 2015, the PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group has three car brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services under its Free2Move brand, to meet the evolving needs and expectations of automobile users. The automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 102.4 grams per kilometre in 2016, and an early innovator in the field of autonomous and connected cars, with 2.3 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.