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The French company PSA, behind Peugeot, Citroën, DS, Opel and Vauxhall, has a new major today: its Push to Pass and its PACE! the plans have led to historical profitability. With 3.88 million vehicles sold in the group, PSA sales rose 6.8% in 2018, and business revenue grew 18.9% to $ 84 billion. The operating margin is a record 8.4% and for the years 2019-2021, PSA targets a profit margin of 4.5%.
What is remarkable is that the newly acquired Opel and Vauxhall companies are taking advantage of PSA's first full year of ownership after two decades of losses. We could imagine that the former brand rider, General Motors, is looking at PSA figures in quite a thorough way. Rhythm! The plan included reducing marketing costs, car costs and simplifying the number of Opel-Vauxhall engines and platforms by basing the new models on existing PSA hardware.
Now that PSA is "sustainably competitive", there are more expansion projects. PSA aims to become a true global vehicle manufacturer, which implies an increase in sales outside of Europe. The goal is to improve sales by 50% by 2021 and, in the following years, its brand portfolio progresses on new or improving markets. Opel is being revitalized in Russia, Citroen's target market is India and, what interests US readers, Peugeot sales will restart in the United States. Earlier reports had programmed PSA's US market return in 2026, in some states and in "pro-import" locations, but until now it was unclear what brand PSA would offer to its customers. customers in the United States and Canada.
PSA says that a lot of new models will be introduced – 116 new launches by 2021. Part of this will be in the commercial vehicle lineup, which will experience a "surge" in growth, and as a result, PSA model lines will be refreshed faster. rate with an expected average model age of only 3.5 years. In addition, 50% of the models will be electrified by 2021, with a portfolio of fully electrified models targeted for 2025, including the addition of hydrogen vehicles for business parks.
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