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.”

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peugeot-logo-2010-1920x1080Peugeot to re-enter India through a joint venture with CK Birla Group

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

Peugeot buys “Ambassador” brand rights from Hindustan Motors

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Modified & restored Hindustan Motors Ambassador

KOLKATA: Ambassador, the iconic Indian car brand that till less than a decade ago carried both the Prime Minister and the common man, is being sold to French carmaker Peugeot.

The C K Birla Group-owned Hindustan Motors formalised the deal for Rs 80 crore on Friday. Production of Ambassador cars had stopped around three years ago.

“We have executed an agreement with the Peugeot SA Group for the sale of the brand Ambassador, including the trademarks… We intend to use the proceeds from the sale to clear dues of employees and lenders,” a CK Birla Group spokesperson said.

To those who grew up in the 1960s and 70s, Ambassador wasn’t just a car; it was an inseparable part of India’s urban landscape.

The car’s absence of looks was never in doubt. But in an era of limited choices, the spacious fourwheeler was the preferred choice for most Indians who could afford it. Even today for many, the car remains synonymous with memories of their fonder and younger days and a marker of a more innocent India.

It is not clear if Peugeot will use the Ambassador brand for its cars in India. A questionnaire mailed to the French company remained unanswered.

The Ambassador brand was introduced seven decades ago when Hindustan Motors launched the Morris Oxford series II (Landmaster) in a new avatar with minor changes.

peugeot-logo-2010-1920x1080Peugeot to re-enter India through a joint venture with CK Birla Group

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

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Peugeot to re-enter India through a joint venture with CK Birla Group

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 surfaced yet, media reports claim that the CK Birla Group and the PSA Group have signed a joint venture deal, which includes an assembly plant in Chennai. This manufacturing facility, with a current annual capacity of 12,000 vehicles, will likely be used to produce Peugeot vehicles locally. Further details about the signed joint venture are expected to be revealed within a week.

Interestingly, Peugeot’s Chief Executive, Carlos Tavares, had mentioned that the company is looking for partnerships to enter India, during his media interaction at the 2016 Paris Motor Show. The automaker has been keen on entering the growing Indian market from the past decade. It had even acquired land for a production facility in Gujarat, which was later shelved due to financial constraints.

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Peugeot 508 spotted in India by a Team-BHP member

If the aforementioned plans do see the light, it will mark Peugeot’s re-entry into the Indian market after its infamous first attempt. The company had earlier partnered with Premier Automobiles Limited (PAL) and had launched the 309 in India. However, labour unrest and poor dealer services resulted in huge losses for the French automaker, forcing it to pull out of the market.

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Peugot 309, sold in India in nineties by Premier Automobiles Ltd (PAL)

Via Team-BHP

Faurecia ups it’s Earnings Guidance after seeing a strong first half in 2016

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Driven by strong organic growth in Europe, Faurecia’s profitability in the first half of 2016 exceeded expectations encouraging the company to up the earnings guidance for the next quarter.

French car parts supplier raised its full-year guidance on profit and cash generation after reporting a stronger first-half performance in Europe.

European carmakers have been upgrading their European auto market forecasts since the start of the year as the recovery in demand gathers pace.

Faurecia’s operating income rose to 490 million euros ($539.2 million), or 5.1 percent of total sales, over the first six months of the year compared with 384 million euros a year ago.

“Faurecia’s robust profitability in the first half of 2016 … was driven by a strong organic growth in Europe, clearly outperforming automotive production, a profitability breakthrough in North America and robust profitability in Asia,” Chief Executive Patrick Koller said in a statement on Monday.

Faurecia, which is 47 percent owned by French carmaker PSA Peugeot Citroen, said it expected operating margin on total sales of no less than 5 percent, versus its previous guidance of 4.6 to 5 percent.

The company also targeted net cash flow of minimum 300 million euros, compared with its earlier expectation of around 300 million euros.

Faurecia confirmed its guidance on total sales growth in 2016 of 1 to 3 percent.

via: Reuters