Peugeot to Launch New Models in 2016, Expand in New Markets
September 14 2015 - 4:25AM
Dow Jones News
By Blandine Henault and Inti Landauro
PARIS--French car maker PSA Peugeot Citroen (UG.FR) plans to
launch a series of new cars in 2016 and enter new markets once its
"back in the race" recovery plan is completed, Chief Executive
Carlos Tavares said Monday.
"From 2016, we will reap the fruits of everything we did over
the past few years in terms of investment and we will undertake...
a strong new-product offensive that will last three or four years,"
Mr. Tavares said in an interview with local radio BFM Business.
Peugeot, Europe's second biggest auto manufacturer after
Germany's Volkswagen AG, plans to expand in new countries, focusing
on emerging economies, he said. Peugeot's main markets for now are
Europe and China.
The French group's current restructuring plan is based on
improving the operating profit margin of its car-making activities
to 2% by 2018 and generating 2 billion euros ($2.3 billion) in free
cash flow between 2015 and 2017.
Peugeot said on Monday that sales over the first eight months of
the year fell 1.6% to 1.9 million units compared with the same
period a year ago. Sales fell 17% in China and Southeast Asia in
August and 19% in Latin America from the same month last year,
while sales jumped 14% in Europe where the car market is
rebounding.
Write to Blandine Henault at blandine.henault@wsj.com and Inti
Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 14, 2015 04:10 ET (08:10 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Dongfeng Motor (PK) (USOTC:DNFGY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Dongfeng Motor (PK) (USOTC:DNFGY)
Historical Stock Chart
From Aug 2023 to Aug 2024