Groupe PSA: The car manufacturer that contributed most to France’s trade balance in 2017

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•    Nearly €6 billion automobile trade surplus, up 15%
•    Surplus of 397,000 vehicles exported, up 21%
•    15 Peugeot, Citroën and DS vehicles earn “Guaranteed French Origin” label

Groupe PSA is the car manufacturer that made the largest contribution to France’s trade balance in 2017, with a surplus of €5.54 billion , of which €200 million generated by the Opel vehicles manufactured at the Sochaux plant.

The five vehicle assembly plants produced 1.1 million vehicles, an increase of 12.9% on 2016, representing one-third of the Group’s worldwide vehicle production. The level of domestic output exceeds the commitments made under the New Momentum for Growth agreement, signed in July 2016 by five out of six French trade unions, representing 80% of employees.

In addition, the 12 components plants manufactured five million Groupe PSA engines and gearboxes in France. Due to the Group’s strong manufacturing presence in France, 15 Peugeot, Citroën and DS vehicles  were awarded the “Guaranteed French Origin” label by the not-for-profit organization Pro France.

Carlos Tavares, Chairman of the Managing Board of Groupe PSA, stated: “Directly contributing to France’s economic activity is a source of great pride for our Group and for the 58,000 employees based in the country. It is important to create the right economic conditions to enable us to enhance, through our Push to Pass strategic plan, the performance of our manufacturing base in France in order to meet the challenges of the energy transition.”

Source

Also see: 


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PSA Group, the France-based carmaker and owner of automotive brands like Peugeot and Citroen, will soon re-enter the Indian market. The company is reportedly in talks with the New Delhi-based CK Birla Group for a probable manufacturing venture. An official announcement about the same is expected to be made by the end of this week. Though detailed information hasn’t…read more

Author: Prasanth Chunduri

I am an Independent Financial Advisor advising about mutual funds. Apart from my profession I am interested in cars and bikes.

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