PSA Peugeot Citroën presents €3.3 billion Performance Plan for 2010-2012

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12/11/2009 | Paris – 12 November 2009

PSA Peugeot Citroën presents €3.3 billion Performance Plan for 2010-2012

At today’s Investor Meeting, the Managing Board of PSA Peugeot Citroën presented a Performance Plan that will allow the Group to return to profitable growth.

The objective of the €3.3 billion plan is to enable PSA Peugeot Citroën to catch up with its leading competitors in terms of profitability.

The sales & marketing momentum will account for 45% of the improvement in the Group’s performance, with cost reductions representing the remaining 55%.

  • The sales & marketing momentum will be underpinned by :
    • Increasing market share in Europe through a product offensive and greater B-to-B segment penetration.
    • Enhancing brand perception by developing a new image for each brand: Créative Technologie for Citroën and a new identity for Peugeot to be presented in January 2010.
    • An expanded portfolio of customer services.
    • Increasing penetration in China, Latin America and Russia thanks to extended market coverage.
  • Cost reductions will result from :
    • An increase in production capacity utilisation to 105%, compared with 81% in 2008.
    • A 20% improvement in manufacturing and development productivity.
    • A € 400 million of SG&A savings.
    • The roll-out of PSA excellence system across the Group.

Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, said:

“We’re faced with new realities in the automotive industry. We’re seeing faster growth in Asian markets, ageing populations in developed countries, growing urbanisation, and increasing concern for the environment. To respond to these emerging trends, PSA Peugeot Citroën has defined three ambitions : to become a global player, to be a step ahead in pioneering products and services and to be an industry benchmark for operational efficiency, these ambitions being based on responsible development.”

Philippe Varin concluded:

“Our stepped-up efforts to enhance productivity and improve performance will enable us to catch up with our best in class competitors and return to growth. With the Group’s much improved financial position in the second-half of 2009, the plan will give us the flexibility needed to achieve our ambitions.”

 

Contacts:

Media Relations Investor Relations
Hugues Dufour                +33 (0) 1 40 66 53 81
hugues.dufour@mpsa.com
James Palmer                        +33 (0) 1 40 66 54 59
james.palmer@mpsa.com
Pierre-Olivier Salmon     +33 (0) 1 40 66 49 94
pierreolivier.salmon@mpsa.com
Jean-Hugues Duban             +33 (0) 1 40 66 40 28
jeanhugues.duban@mpsa.com
Laurent Cicolella            +33 (0) 1 40 66 52 04
laurent.cicolella@mpsa.com
Yasmine Casvigny                 +33 (0) 1 40 66 57 45
yasmine.casvigny@mpsa.com

 

 


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