/ Citroen, Industry, News, Peugeot / PSA Peugeot Citroen Presents Profit Goal for Recovery Plan

PSA Peugeot Citroen Presents Profit Goal for Recovery Plan

Linked In Share
PSA Peugeot Citroen Presents Profit Goal for Recovery Plan

French automaker PSA Peugeot Citroen relies on its new recovery plan to reach a 2% operating margin in the automotive division in 2018.

Chief Executive Carlos Tavares said that the recovery strategy implies cutting costs and reducing the number of models in order to reach profitability from a loss of 1.042 billion euro in 2013, or 2.9% of sales.

“We are going to focus the creative power of our teams on a more limited number of products that people want to buy,” Tavares said.

Over the past two years PSA Peugeot Citroen has lost more than 7.3 billion euro and in February the automaker struck a rescue agreement which implies selling 14% stakes to Chinese Dongfeng Motor Group and to the French government, past of a 3-billion euro cash infusion. This deal will help the car maker with its struggling operations in Latin America and Russia and see a return to profit in the following three years.

“The group needs to develop a real profit-driven culture and a global approach in order to return to profit more quickly. Pursuing the cultural change already under way at PSA Peugeot Citroën is an important prerequisite for meeting the preceding four objectives,” Tavares added.

PSA Peugeot Citroen also plans to make Citroen’s DS sub-brand a stand-alone premium brand. The French automaker will try to reduce its dependence on the disappointing European market and expand its presence in southeast Asia and China.

by Mircea Serafim (my Google+) - Monday, April 14th, 2014 - filed under Citroen, Industry, News, Peugeot. Image credit: .
Linked In Share
Related Articles
peugeot citroen profit psa recovery plan


Discuss: PSA Peugeot Citroen Presents Profit Goal for Recovery Plan

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Alonso-McLaren ‘mess’ could be looming – Villeneuve
Alonso-McLaren ‘mess’ could be looming – VilleneuveDec.15 (GMM/Inautonews.com) Ron Dennis has dismissed reports Fernando Alonso has built 'exit clauses' into his new McLaren-Honda ...
Decision to oust Vergne ‘difficult’ – Tost
Decision to oust Vergne ‘difficult’ – TostDec.15 (GMM/Inautonews.com) Jean-Eric Vergne has made a promising start to his post-F1 career. Dropped by Toro Rosso after ...
Verstappen ‘too young’ for F1 – Todt
Verstappen ‘too young’ for F1 – TodtDec.15 (GMM/Inautonews.com) Jean Todt says Max Verstappen is "too young" for formula one. At the most recent meeting of the ...
Ferrari should resist ‘revolution’ – Todt
Ferrari should resist ‘revolution’ – TodtDec.15 (GMM/Inautonews.com) Jean Todt has urged Ferrari to resist making revolutionary changes after faltering at the start of ...
Alonso rules out Le Mans in 2015
Alonso rules out Le Mans in 2015Dec.15 (GMM/Inautonews.com) Fernando Alonso says he will not be following Nico Hulkenberg's lead by splitting his F1 duties with ...
Korea endangers sports car race for Hulkenberg
Korea endangers sports car race for HulkenbergDec.15 (GMM/Inautonews.com) Korea has become a potential spanner in the works for Nico Hulkenberg. It was announced recently ...
‘No sense’ to try F1 comeback – Kubica
‘No sense’ to try F1 comeback – KubicaDec.15 (GMM/Inautonews.com) Robert Kubica has suggested he is close to abandoning the idea of ever returning to formula ...
Lauda not sure how F1 engine row will end
Lauda not sure how F1 engine row will endDec.15 (GMM/Inautonews.com) Even Niki Lauda admits he is not sure what is the future of F1's engine regulations. Bernie ...
Magnussen can win titles after 2015 ‘pause’ – Dennis
Magnussen can win titles after 2015 ‘pause’ – DennisDec.15 (GMM/Inautonews.com) Ron Dennis has likened Kevin Magnussen to champions Fernando Alonso and Mika Hakkinen, insisting the ...
Ecclestone says no F1 action on Youtube
Ecclestone says no F1 action on YoutubeDec.15 (GMM/Inautonews.com) Bernie Ecclestone has ruled out the broadcasting of grands prix on the internet. The F1 chief ...
McLaren denies Dennis now sole team owner
McLaren denies Dennis now sole team ownerDec.13 (GMM/Inautonews.com) McLaren has denied Bernie Ecclestone's claim that Ron Dennis has bought back majority ownership of ...
Meet the Tata Super Nano by JA Motorsport
Meet the Tata Super Nano by JA MotorsportThe hottest version of the Tata Nano has been officially unveiled by JA Motorsport, as the model in question is coming with 230 ...
Infiniti Q60 Concept teased for NAIAS
Infiniti Q60 Concept teased for NAIASInfiniti has released a teaser image depicting the Q60 Concept which will be officially presented to the public at the 2015 ...
2016 Audi Q7 leaked in first images
2016 Audi Q7 leaked in first imagesThe first official images with the second generation of the Audi Q7 have surfaced online ahead of an imminent online reveal. The ...
Next-gen BMW 5-Series spied for the first time ever
Next-gen BMW 5-Series spied for the first time everThe next generation of the BMW 5-Series has been caught on camera in a premiere by our spy photographers as it has been testing ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

tata super nano tuning ja motorsport 1
2016 audi q7 1
Spy-Shots of Cars
Spy-Shots of Cars
ferrari f430 spider lake pond 1
classic_car_collection
bmw 218i coupe 1
2015 Fiat Doblo 1
Romeo Ferraris Cinquone 1
Audi RS3 Sportback 1
2016 skoda superb 1
VW-E-Load-Up-1

More automotive from inautonews
The hottest version of the Tata Nano has been officially unveiled by JA Motorsport, as the model in question is coming with 230 HP. The Tata Nano has recently become one interesting ride thanks to JA Motorsport, from a dull vehicle, as the company has added several goodies to it. The model in ...
read more
Inautonews Editors Section
Test Drive: Ford Fiesta ST
Test Drive: Ford Fiesta ST The current generation of the Ford Fiesta ST has been officially presented to the public back in March, 2012, during the Geneva Motor Show, and it ...
Test Drive: Renault Twizy – Back to basics
Test Drive: Renault Twizy – Back to basics Renault has been producing the Twizy for a couple of years now, in its Valladolid, Spain, facility but spotting one on European roads can turn out ...
Test Drive: Mercedes-Benz SL400
Test Drive: Mercedes-Benz SL400 The Mercedes-Benz SL is currently in its sixth generation and since the company has released a new entry-level, the SL400, which is basically the ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety US: automakers gather in concerted effort to investigate Takata airbag defectFollowing our report yesterday, Toyota and nine other automakers have released a joint statement ... US: automakers hold meeting to discuss and coordinate Takata airbag issue – reportCarmakers are set to hold a meeting later today in Detroit with the objective of coordinating an ...
Safety Section