RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:
Groupe PSA (Paris:UG):
- Groupe PSA is now sustainably competitive, driven by the results of an efficiency drive that has aligned it with the best levels in the global automotive industry, combined with an ability to seize opportunities such as the Opel acquisition.
- Recurring value creation is supporting investments geared towards preparing the company for tomorrow’s auto industry challenges, including the energy transition.
- Continuous improvement in product and service quality is fostering greater satisfaction among our customers on a broader geographical scope and across a larger range of businesses, including growth drivers such as used vehicles, spare parts and new forms of mobility.
- Building on the success of the first phase of its Push to Pass plan, Groupe PSA plans to continue following its roadmap, guided by one cardinal value – agility.
The Push to Pass strategic plan is a first step towards the achievement of Groupe PSA’s vision: “to become a global carmaker on the leading edge of efficiency and a benchmark supplier of mobility services”, and perpetuates the Group’s underlying purpose of preserving freedom of movement by offering sustainable and affordable mobility. To achieve this objective, the Group plans to take up the major challenges facing the automotive industry, illustrated by the seven mega trends1, and accelerate the implementation of transformation projects that foster growth and efficiency, particularly in digital technology. The Group’s aim is to increase its sales outside Europe by 50% by 2021 and to position its brands in new markets: Peugeot in North America, Citroën in India and Opel in Russia, while enhancing DS’s international footprint.
The growth of the brands, with a surge expected in the field of commercial vehicles, will be led by the Core Model Strategy. This strategy provides for the launch of 116 launches by 2021, including new concepts, with a resulting reduction in the average age of the range – a source of pricing power for the brands – to 3.5 years.
The challenges of the energy transition will continue to be a key focus of the Core Technology Strategy, with strategic management of CO2, faster paced electrification of vehicles ranges, with 50% of the offering electrified by 2021 and a target of 100% by 2025, and the use of the first hydrogen vehicles in real-life conditions in B2B customer fleets. Having been one of the first manufacturers to test autonomous vehicles out on the open road, Groupe PSA will continue to roll out advanced driver-assistance systems (ADAS) taking into account customers’ cost-use value trade-offs.
The Core Mobility Strategy of the second part of the Push to Pass plan provides for the international launch of the Free2Move mobility brand, enhanced aftermarket offers driven by the IAM multi-brand business, and a break into the circular economy field. The used vehicles business is expected to increase its sales and transactions outside Europe by a third. Financial services will become a decisive driver of sales performance as the market goes increasingly electric.
Commenting on the plan, Carlos Tavares, Chairman of the Group’s Managing Board, said: “We will be continuing our Darwinian transformation and approaching each challenge as an opportunity to stand out against our competitors. The commitment, professionalism and agility of our teams, combined with the pursuit of operational excellence, will sustainably drive our performance and increase the satisfaction of our customers. Continuing to improve our costs and going further in our tireless pursuit of efficiency remain central in this new phase of our plan.”
About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision: to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia.
1 Market divergence / Sharing / Energy and environment / Connectivity / Autonomy / Digital transformation / Changing customer behaviour