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Report – PSA could move to return to the United States

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Report – PSA could move to return to the United States

PSA Peugeot Citroen last sold a car – the Peugeot 405 – in the US in 1991, but now the company’s new chief executive officer Carlos Tavares has hinted to a return there.

After it finally managed to secure a deal with China’s Dongfeng and the French state to increase the capital by both assuming matching stakes in the company and in the process changed its CEO with Carlos Tavares, former No.2 at Renault, PSA is now confiding on a recovery plan to bring it back to profit.

The recovery plan, dubbed “Back in the Race” by the company, sees, among others a return to profitability by 2016 after a long run of big losses, but would also allow the three brands – Peugeot, Citroen and the upmarket DS – to “operate anywhere in the world.”

On the other hand, Tavares, asked about the potential return to the US of Peugeot, said that his company first needs to reach a four-target goal, before ” looking at the next steps we should take.”

While a return to US showrooms should not be expected before the decade’s end, if it will actually happen, the revival plan was also questioned back in 2012 when General Motors acquired a stake in the ailing PSA. The stake was since sold, but a joint European product development program will continue to live under the new leadership.

Via Edmunds

by Aurel Niculescu (my Google+) - Wednesday, April 23rd, 2014 - filed under Citroen, Industry, News, Peugeot. Image credit: .
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