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PSA wants to keep European top position

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PSA wants to keep European top position

PSA Peugeot Citroen’s new CEO, Carlos Tavares, contends the automaker doesn’t want to give up its top position in the European region, where is second behind only the Volkswagen Group.

VW AG, which is also the second biggest automaker in the world in 2013 is the ruling automaker in Europe, reaching in the EU and EFTA markets through April sales of 1.1 million units. On the other hand, according to data from the industry association ACEA, PSA only managed in the same period to reach deliveries of 496,243 vehicles.

“We want to keep a strong No. 2 position in Europe,” Tavares said. “It would be arrogant and unrealistic to say we will become No. 1. But we strongly believe we have enough arguments to stay No. 2, and be a profitable No. 2″

The discrepancy is a tough testament to the industry gap in Europe – as the German lider has a healthy global position, while its mass-market competitors still rely mostly on the fable European region.

Also, in PSA’s case, the newly appointed CEO acknowledge he took helm of a “near-bankrupt” automaker, which lost in the last two years alone no less than 6 billion euros – which prompted the unusual move to gather funds from the Chinese partner Dongfeng and the French government, at the cost of founding family Peugeot losing control over the company.

Via Automotive News Europe

by Aurel Niculescu (my Google+) - Friday, June 6th, 2014 - filed under Citroen, Industry, News, Peugeot. Image credit: .
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