PSA Peugeot Citroën has renamed itself “Groupe PSA”, symbolizing the transformation led by its “Push to Pass” strategy. Among the Push to Pass elements is a core technology strategy shaped by the launch of 7 plug-in hybrids and 4 electric vehicles, and the deployment of the connected and autonomous vehicle program.
The PSA Group, comprising the three brands Peugeot, Citroën and DS, said its new identity is aligned with the shift in its business model towards a broader portfolio of business activities in a drive to optimise its existing customer base while expanding that base through digital innovation.
The Push to Pass plan for the 2016-2021 period aims to meet customers’ mobility needs by anticipating changes in car usage patterns. The plan also envisions a product blitz of 26 passenger cars and 8 light commercial vehicles, including a 1 ton pick-up, leading to the launch of “one new car, per region, per brand and per year”.
Based on frugal R&D expenditure and control over production costs as well as fixed costs, the plan raises the bar for the PSA Group’s sustainable performance by setting the following objectives:
Reach an average 4% automotive recurring operating margin in 2016-2018, and target 6% by 2021.
Deliver 10% Group revenue growth by 2018 vs 2015, and target additional 15% by 2021.