PSA Peugeot Citroën unveils five-year growth plan

PSA Peugeot Citroën will launch seven plug-in hybrids and four electric vehicles as part of its growth plan, and implement a connected and autonomous vehicle programme.

More broadly, the company will introduce a “product blitz” across the Peugeot, Citroën and DS brands, launching one new car, per region, per brand, per year. This will include 26 passenger cars and eight light commercial vehicles including a one-tonne pick-up.

Announced today under its ‘Push to Pass’ plan, which addresses PSA’s intentions for the next five years, the company said it “aims to meet customers’ mobility needs by anticipating changes in car usage patterns”.

PSA boss Carlo Tavares, having already achieved all of the goals he set when he joined the firm in 2014, revealed new objectives including a 10% revenue growth in 2018 versus 2015 and target an additional 15% by 2021.

To achieve these targets, the company said it is adapting its business model, creating more value by optimising its customer base, while also expanding it through digitalisation and multi-brand offers in aftersales, leasing, used cars, mobility services and fleet management.

It added Push to Pass is the first step toward achieving the group’s vision to be “a great global carmaker with cutting edge efficiency and the preferred mobility provider worldwide for lifetime customer relationship".

PSA Peugeot Citroën will also take on selected venture capital investments “to enhance the company’s portfolio of mobility solutions”.

Commenting on the Push to Pass plan, Taveres said: "Based on our financial reconstruction, we will launch a global product and technology offensive. Now more agile, we are ready to shift paradigms by anticipating changes in car usage patterns. Our digital transformation will make the PSA Group a company connected to its customers. With ‘Push to Pass’, we will ensure PSA profitable organic growth."

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