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05/11/2010 | Buenos Aires – 5 November 2010

PSA Peugeot Citroën consolidates presence in Latin America with the new Peugeot 408

Today, Carlos Gomes, PSA Peugeot Citroën Senior Vice President, Latin America, and Javier Varela Sobrado, Managing Director of PSA Peugeot Citroën Argentina, launched production of the Peugeot 408 at the El Palomar plant, near Buenos Aires. The event was attended by President Cristina Fernández de Kirchner of Argentina.

The Peugeot 408 offers a new line-up designed to broaden the Peugeot range in the Latin American market. The 408’s notchback architecture and size position it at the upper end of the Peugeot models produced in the region, a segment that is currently experiencing fast growth.

The Peugeot 408 is the seventh model manufactured at PSA Peugeot Citroën’s El Palomar plant, which already makes the Peugeot 206, 207, 307 and Partner and the Citroën C4 and Berlingo. It therefore leverages all of the accrued expertise of the production facility, which has already produced more than 1.2 million vehicles.

This latest production start-up has further strengthened the Group’s extensive commitment to Latin America, which is considered to be one of its three priority growth regions and strategic to its international expansion. As well, the Group plans to invest €700 million in the region over the next two years.

In addition, this vision is being supported by the positive outlook for the Latin American automobile market and the Group’s performance in the region. In the first nine months of 2010, for example, the Group sold 195,000 units in Latin America and expects to end the year with around 275,000 units sold, 20% more than in 2009.

PSA Peugeot Citroën employs more than 10,000 people in Latin America. Its manufacturing facilities in region comprise four production centres, of which two automobile plants (in Porto Real, Brazil and El Palomar, Argentina) and two mechanical component and engine plants (one in each country). It also has a Tech Centre that networks with the various production facilities to provide technical support for the automobile design and manufacturing operations.

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