cars news 10: Peugeot Citroen Rebrands as PSA Group, Will Return to U.S. in 10 Years

PSA Peugeot Citroen announced today that it has rebranded itself as PSA Group, and revealed its “Push to Pass” growth plan for the 2016-2021 period. The plan aims to meet customers’ mobility needs and anticipates changes in the way cars are being used. PSA also announced its plan to return to the U.S. in 10 years’ time. However, the brand says it will establish an early foothold in the market by launching a mobility services operation by 2017.

PSA’s new goals include an average 4-percent recurring margin from 2016 to 2018, which will then be raised to 6 percent by 2021, deliver 10 percent group revenue growth by 2018, and target another 15 percent by 2021. The automaker is planning a product blitz consisting of 26 passenger cars, eight light commercial vehicles, and a one-ton pickup truck that will lead to the launch of the “one new car, per region, per brand, and per year” portion of the strategy. The plan specifies seven plug-in hybrid and four all-electric vehicles, and also includes the launch of PSA’s connected and autonomous vehicle program to help ensure profitable growth in all regions.

“Push to Pass” will be PSA’s first step toward becoming a global automaker “with cutting edge efficiency and the preferred mobility provider worldwide for lifetime customer relationship.” Citroen will debut 12 global models by 2021, with the first seven vehicles to be released by 2018. DS, on the other hand, will have five global vehicles by 2021 and will target a specific group of premium car buyers. Lastly, Peugeot will be positioned near the higher end of mainstream brands and focus on building “a best in class customer experience.”

A report from Auto Express reveals that PSA CEO Carlos Tavares confirmed the return to North America by stating the French company “cannot be global until we are there.” Initially, the automaker will partner up with firms providing mobility solutions like car sharing programs to study the needs of customers in the U.S. Later on, it will offer its own products to customers before launching its entire lineup for sale and establishing some local production. “We are going to take it step by step so we don’t fail because of pride or arrogance,” said Tavares. “We cannot escape the fact that our competition there has been in the U.S. for 50 years or more. But also, we know that they are the same competitors that we have beaten in Europe and China, so we have a chance.”

Source: PSA Group, Auto Express