During a recent interview Thierry Morin, the former CEO of Valeo, PSA Peugeot-Citroen’s partsmaker, gives automakers advices on how to deal with the European crisis.
Thierry Morin believes that Renault’s alliance with Nissan was a very wise choice and congratulates the automaker for its growth in international sales in markets such as Russia and Brazil. If in 1999 Nissan was a company with lots of engineering skills, but poor management, today it is considered an important part for Renault’s success.
When it comes to PSA Peugeot-Citroen, Morin believes that the decisions it took recently are too little too late, and that its alliance with GM is almost useless now. The lack of ambition concerning the products is what made the French automakers lose ground in front of the German rivals. He also believes that their biggest mistake was to assume that achieving low CO2 is only possible by manufacturing smaller engines, and this is what made the French brands lose the few positions they had in the premium auto market.
Losing such models, which are among the most profitable in the world, left PSA and Renault with no high-performance engines. Morin added that the difference between the German and French automakers, is that the first are passionate about their vehicles, ‘car guys’, while the French believe that having a successful and wise CEO is enough to make the company profitable.