Showing posts with label citroen. Show all posts
Showing posts with label citroen. Show all posts
Monday, August 24, 2015
PSA to increase European output to meet increasing demand in its range of cars.
PSA Peugeot Citroën has announced that it will be increasing output in its European plants in order to capitalise on growth in Europe's markets and meet demand from its customers.
More than 60,000 additional vehicles will be produced in Europe by the end of August 2015, meaning that volumes will be 10% higher than initially planned for the period.
Volumes will increase for all three of the Group's brands – Peugeot, Citroën and DS. For example, the number of Citroën C4 Cactus cars manufactured in Madrid – a model which exceeds its targets with orders totaling nearly 30,000 since January – will be increased by 9,000 units over the period.
The Peugeot line-up will also be ramped up, with additional volumes planned in particular for the 208, 2008 and 308, including the 308 SW version.
The number of DS 3 units manufactured in Poissy, France will also increase, as will volumes across the Group's range of utility vehicles, in a segment that PSA Peugeot Citroën continues to lead.
As part of the plan to increase production, operations will be stepped up at the Group's engine and gearbox plants in France, as well as at its foundries and in its sales networks. Suppliers and the entire automotive industry will also be called on to participate in the uptrend.
For the PSA Peugeot Citroën European plants concerned, the increase in production will lead to work schedule adjustments and, in certain cases, to the short-term deployment of additional teams and the hiring of temporary workers.
PSA Peugeot Citroën's manufacturing base is able to respond to rapid changes in demand thanks to the flexibility provided for in agreements signed with employee representatives in France (New Social Contract of 2013) and in other European countries. These agreements make it possible to reconcile plant competitiveness imperatives and preserve employees' main interests.
Denis Martin, Executive Vice President, Operational Director Europe, said: "Growth in the European market is very good news for the entire automotive industry, from plants to dealership networks to suppliers. It's having a real turbo effect on PSA's performance.
The positive development we're seeing in the market today means we can step up execution of the Back in the Race plan, which was based on the assumption that the market would remain flat.
With the support of our suppliers, and thanks to the flexibility provided for in the agreements signed with employee representatives, we are mobilising all our resources to meet demand from our customers."
PSA-Dongfeng celebrates the first anniversary of their strategic partnership.
- Joint development of a global platform for the B and C segments
- Commitment of €200 million
- Creation of a joint R&D centre
- Faster international expansion for both Groups
PSA Peugeot Citroën and Dongfeng Group (DFG) held an event today in Shanghai to mark the first anniversary of their strategic partnership signed in March 2014. The event was attended by Carlos Tavares, Chairman of the PSA Peugeot Citroën Managing Board and Xu Ping, Chairman of DFG.
The two chairmen took advantage of the occasion to announce a project to jointly develop a global platform for the manufacture of B and C segment vehicles under the Peugeot, Citroën, DS and Dongfeng brands and to create a joint R&D centre based in Shanghai that will be dedicated to developing products and technologies for fast- growing Asian markets.
The new "Common Modular Platform" (CMP) will become PSA Peugeot Citroën and DFG's new generation platform for B and C segments. The project calls for capital expenditure of €200 million, of which 60% will be committed by PSA and 40% by DFG. A liaison team of DFG engineers will be located in Vélizy, within the main project team.
The new platform will enable PSA Peugeot Citroën and DFG to manufacture vehicles in their respective growth regions. In China and the ASEAN countries, PSA Peugeot Citroën will benefit in particular from DFG's supplier base expertise, which will make it possible to meet ambitious cost targets in highly competitive segments.
The Common Modular Platform will provide effective solutions in terms of modularity, versatility, equipment and carbon reduction.
PSA, for the eighth year running, again leads French Patent filing.
France's National Intellectual Property Institute (INPI) ranking confirms that PSA Peugeot Citroën is once again the country's leading patent filer, with 1,036 patent applications published in 2014.
PSA Peugeot Citroën's R&D strategy is based on a tradition of innovation that has won the INPI's recognition for the eighth year in a row. The INPI ranking reflects the commitment of the Group's teams to implementing innovative solutions that will shape the car of the future.
Gilles Le Borgne, Executive Vice President, R&D Operations, said:
"Our active patent strategy delivers clear competitive advantages, while allowing the Group to control the use of its proprietary innovations. It's also a key tool for accelerating the Group's expansion in all of its host regions."
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The one thousand plus patents filed in 2014 relate to three main R&D challenges: emission reduction, connected services and the development of automated systems that will ultimately drive the autonomous vehicle.
They also concern appealing, differentiating technological innovations intended to enhance the identity of the Group’s three brands.
Reducing fuel consumption and CO2 emissions
As a result of a long-term innovation process, PSA Peugeot Citroën is the European leader in terms of CO2emission reduction, with average emissions of 110.3 g/km.
Setting the benchmark in its category, the three-cylinder EB Turbo PureTech petrol engine has 120 patents to its name, and the 100 patents filed for the BlueHDi exhaust system have made the Peugeot 208 1.6l BlueHDi the world's most fuel-efficient internal combustion vehicle, with CO2 emissions of just 79 g/km.
A priority objective is lowering vehicle weight to reduce fuel consumption, particularly through the use of composite materials. With more than 60 patents published on weight reduction, PSA Peugeot Citroën received an innovation prize at the JEC Europe Composites Show & Conferences for a composite structural concept that is capable of replacing steel.
Enhancing the appeal of its vehicles
PSA Peugeot Citroën's innovations are applied to Peugeot, Citroën and DS vehicles depending on the strategy adopted by each brand.
For example, the Peugeot 208 is now available with a textured paint finish – a world first for a production vehicle – which changes shade and appearance in response to light.
Similarly, the Citroën C4 Cactus sports the exclusive Airbump® side impact protection system which on 2 April 2015 was named the 2015 World Car Design of the Year at the New York International Auto Show.
Borrowing directly from the Divine DS, Wild Rubis and Numero 9 concept cars, the DS 3 is equipped with the DS LED Vision signature lighting system, which clearly illustrates how technology and attractiveness can go hand in hand.
PSA Group sees rasied revenues in the first quarter of 2015, even though
- Group revenues up 4.6% to €13.7 billion.
- Automotive Division revenues slightly up, to €9.0 billion.
- New car revenues including China up 5.5% [1].
- The Group is ahead of schedule with its "Back in the Race" recovery plan and is benefiting from a favourable economic environment.
In the first quarter of 2015, consolidated Revenues totalled €13,674 million, a 4.6% rise over the prior-year period. Automotive Division revenues, excluding the contribution of the Chinese joint ventures, amounted to €8,950 million for the period, representing a slight increase on first-quarter 2014.
Revenues from new vehicles are up 1.1%, thanks to positive impact of product mix and price and currency effects (primarily relating to the British pound), offsetting a decline in volumes.
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Pro forma Automotive Division revenues1 including our share of the Chinese joint ventures rose 3.3% to €10,217 million, reflecting the strong increase in revenues from China.
In the first quarter of 2015, unit sales of assembled vehicles were sharply higher in Asia, Middle East-Africa and India-Pacific, and slightly lower in Europe. Sales were also down in Latin America and Eurasia, where rightsizing measures on fixed costs are in progress.
In Europe, vehicle sales inched back 1%, whereas new car registrations grew by 4% over the period. In light of the increase in demand, PSA Peugeot Citroën announced that it would be increasing output over the next four months while at the same time pursuing its strategy to improve the pricing power of its three brands, Peugeot Citroën and DS.
In Asia, the Group achieved unit sales up by 9%, led by growth in the Chinese market.
In Latin America and Eurasia, sales are down 35% and 86% respectively, on markets also declining significantly by 12% and 36%. Sales are managed to reach breakeven within 2017 [2], with actions to significantly lower the breakeven point, thus preserving the rebound capacity of the Group.
In the Middle East-Africa and India-Pacific regions, the Group's sales are up 19% and 32% respectively, with a particularly good performance in Turkey, up 47%.
At 31 March 2015, total vehicle inventory, including independent dealers, stood at 370,000 units, down 54,000 from a year earlier.
Faurecia's revenues amounted to €5,140 million, up 13.8% on the prior-year period.
Banque PSA Finance's revenues, accounted for on a 100% basis, rose 1.4% over the period, to €424 million[3].
Commenting on the publication of the first-quarter revenues figures, Jean-Baptiste de Chatillon, said: "We are speeding up the implementation of our "Back in the Race" recovery plan. We remain focused on carrying our targeted measures through to completion, irrespectively of the tailwinds we've enjoyed so far this year."
Outlook
In 2015, PSA Peugeot Citroën expects to see automotive demand increase by 4% in Europe and by about 7% in China, but decline by some 10% in Latin America and around 30% in Russia.
The Group aims to generate operating free cash flow of around €2 billion over the period 2015-2017. It is also targeting an operating margin[4] of 2% in 2018 for the Automotive Division, with the objective of reaching 5% over the period of the next medium-term plan, covering 2019-2023.
Financial calendar
- 29 July 2015: First-Half 2015 Results
Appendix
Worldwide Automobile Sales – First Quarter (cars and light commercial vehicles)
Estimated figures
Assembled vehicles, exc. CKD units
Europe = EU + EFTA + Albania + Bosnia + Croatia + Kosovo + Macedonia + Montenegro + Serbia
FIRST-QUARTER 2015 HIGHLIGHTS
- 29 January 2015: the first worldwide employee share issue is a resounding success.
- 2 February 2015: the first local partnerships between BPF and Santander begin operations in France and the United Kingdom.
- 6 February 2015: Banque PSA Finance adapts and improves the terms of its financial security.
- 23 February 2015:production of a new vehicle is attributed to the Poissy plant, supported by a €150 million capital expenditure programme.
- 17 March 2015: Capital Day.
- 30 March 2015: the 2014 Registration Document is published.
[1] Pro forma revenues including the contribution (50%) of Chinese joint ventures DPCA and CAPSA.
[2] Recurring operating income.
[3] On an IFRS basis, Banque PSA Finance's revenues totalled €154 million in first-quarter 2015, reflecting the application of IFRS 5 and the deconsolidation of the UK and France joint ventures.
[4] Recurring operating income as a percentage of revenues for the Automotive Division.
Northern Irishman Kris Meeke wins his first World Championship round
- Northern Irishman Kris Meeke wins his first World Championship round
- First British WRC winner since Colin McRae in 2002
- Welshman Elyfn Evans claims maiden podium finish
Kris Meeke yesterday became the first British driver to win a round of the FIA World Rally Championship for more than a decade. The 35-year-old from Northern Ireland made his big breakthrough in Argentina with an historic victory on round four of this year’s WRC. He is the first British winner since Colin McRae’s final victory back on the 2002 Safari Rally.
The Dungannon man, co-driven by Irishman Paul Nagle, led from virtually the start and after four days of intense and gruelling competition, he finished 18.1 seconds ahead of his Citroën team-mate Mads Østberg.
Adding further to British delight, Elfyn Evans and co-driver Daniel Barritt finished third in their M-Sport-run Ford Fiesta RS. It was the promising young Welshman’s first-ever WRC podium and delivered the first double podium for British drivers since New Zealand in 2001.
Victory also means Meeke becomes just the fourth British driver to win a WRC round – he joins rally legends Roger Clark, McRae and Richard Burns in a very elite club. Clark, McRae and Burns also all savoured success in their home event – a feat the Ulsterman now will be aiming to emulate when the WRC comes to these shores for Wales Rally GB (12-15 November).
“What can I say? It’s been a long road… and the man who did most is not here,” said an emotional Meeke dedicating his landmark success to the late McRae who was the Northern Irishman’s mentor earlier in his career.
Confidence-boosting performances from both Meeke and Evans is another major boost to the sport in this country and will generate even more interest in the UK’s concluding round of this year’s WRC.
“This is a great day for British rallying and we send our congratulations to both camps,” confirmed Ben Taylor, managing director of Wales Rally GB. "The whole sport has been excited to have two drivers in the WRC again and now to see Kris on the top step and Elfyn alongside him reinforces that UK rallying is moving in the right direction.
I'm sure they will both have the podium in their sights when the WRC comes to Wales in November which is an incredibly exciting prospect for everyone connected with our event.”
Home fans don't have long to wait for full details of the competitive route for 2015 Wales Rally GB, which will be revealed in the coming weeks, together with news of a revised ticketing policy.
Sunday, August 23, 2015
PSA Peugeot Citroën Will Build Cheaper, Longer Range EVs From 2020
France’s largest automaker, PSA Peugeot Citroën, has pledged to bring to market cheaper electric cars which will have a longer range than its current products.
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