Today 09/27/2016 - 05:29:54 PM
Peugeot SA 13.180€
CAC 40 4,392.71 PTS
PSA Peugeot Citroën Announces Further Investments in Brazil in 2012-2015 to Increase Production Capacity and Develop New Models
As part of its growth strategy in the Brazilian market, PSA Peugeot Citroën will continue to deploy its local capital expenditure plan after investing €530 million in 2010-2011.
Carlos Gomes, Senior Vice President Brazil and Latin America, and Thierry Peugeot, Chairman of the Supervisory Board, today informed President Dilma Rousseff and the Governor of the State of Rio de Janeiro, Sérgio Cabral, that the Group will maintain capital expenditure at the same €240 million a year over the 2012-2015 period, in order to double its production capacity.
These outlays are designed to lift output at the Porto Real plant in southern Rio de Janeiro to 300,000 vehicles and 400,000 engines a year by 2015. They will also be committed to developing engines, as well as new Peugeot and Citroën vehicle projects.
Under an ambitious product plan, eight locally-manufactured Peugeot and Citroën models will be launched from 2012 to 2015. The two brands will also broaden their dealer networks, with the number of local sales outlets rising from 320 to 480 in 2015.
From January to September 2011, the Group sold 241,000 vehicles in Latin America, an increase of 18% over the previous year. Its market share stood at 5.8%.
“We have bold growth targets for the Peugeot and Citroën brands in Brazil and Latin America,” said Carlos Gomes. “That’s why we decided to increase our production capacity, so we can meet the expected growth in demand over the next few years.”
The new investments are in line with PSA Peugeot Citroën’s globalisation strategy. With markets outside Europe accounting for 41% of sales during the first nine months of the year, the Group is on track to meet its objective of increasing the share of non-European sales to 50% in 2015 and two-thirds in 2020.