| Type | Société Anonyme |
|---|---|
| Traded as | Euronext: UG |
| Industry | Vehicle manufacture |
| Founded | 1976 |
| Headquarters | 16th arrondissement, Paris, France |
| Area served | Worldwide except North America, South Asia |
| Key people | Philippe Varin (CEO), Thierry Peugeot (Chairman of the supervisory board) |
| Products | automobiles (73.8%) automotive parts (21%) financing (2.8%) logistics (2.2%) motorcycles (0.2%)[1] |
| Production output | 3,605,500 units (2010)[2] |
| Revenue | €56.06 billion (2010)[2] |
| Operating income | €1.736 billion (2010)[2] |
| Profit | €1.134 billion (2010)[2] |
| Total assets | €68.49 billion (end 2010)[2] |
| Total equity | €14.30 billion (end 2010)[2] |
| Owner(s) | Peugeot family 30.3%[3] |
| Employees | 198,220 (end 2010)[2] |
| Subsidiaries | Citroën, Peugeot, Faurecia (majority stake), Gefco, Banque PSA Finance, Peugeot Motocycles, Peugeot Citroën Moteurs, Process Conception Ingénierie |
| Website | psa-peugeot-citroen.com |
PSA Peugeot Citroën (officially Peugeot S.A.) is a French manufacturer of automobiles and motorcycles sold under the Peugeot and Citroën marques. Headquartered in the 16th arrondissement of Paris, PSA is the second largest automaker based in Europe and the number eight in the world.[4]
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In December 1974 Peugeot S.A. acquired a 38.2% share of Citroën. On 9 April 1976[5]they increased their stake of the then bankrupt company to 89.95%, thus creating the PSA Group (where PSA is short for Peugeot Société Anonyme, later rebranded as PSA Peugeot Citroën). Since Citroën had two successful new designs in the market at this time (the GS and CX) and Peugeot was typically prudent in its own finances, the PSA venture was a financial success from 1976 to 1979. In late 1978, PSA purchased the failing Chrysler Europe from the troubled U.S. parent firm for a nominal USD $1.00, plus assumption of outstanding debt, leading to losses for the consortium from 1980 to 1985.[6]
In October 2011, PSA Peugeot Citroen has announced to cut 5,000 non-production jobs in Europe in a cost-cutting effort. There are no cut for production employees, although the two-companies are planning temporary work stoppages at some factories inline with reducing demand of vehicles caused by the European sovereign debt crisis.[7]
The two brands retained their separate sales and marketing structures, but have benefited from a common technology, development and assembling assets.
PSA is actively committed to develop its market presence and sales in many fast growing developing countries and regions of the world. This led to huge investments and partnerships in South America, Iran (Iran Khodro) and China (Dongfeng Peugeot-Citroën Automobile). It announced plans to invest € 650 million in a manufacturing plant in Sanand, India. With a capacity of 170,000 vehicles, the Sanand plant is expected to be operational by 2014.[8]
Jean-Martin Folz was PSA's CEO between 1996 and early 2007, when he was replaced by former Airbus head Christian Streiff. Streiff was sacked on 29 March 2009, a day after the company posted a full year loss for 2008.[9] Streiff was replaced by Corus Group chief executive Philippe Varin.[9]
Peugeot S.A., Citroën and PSA have produced a number of European Car of the Year winners[10] :
Seval (Société Européenne de Véhicules Légers SA and Società Europea Veicoli Leggeri-Sevel S.p.A.) was established in 1978 and is equally owned by Peugeot Citroen and Fiat. As a result of this, two factories have been built assembling three ranges of vehicles, Sevel Nord and Sevel Sud. Peugeot and Fiat's Argentinian operations were also joined under the name of Sevel Argentina S.A. (Sociedad Europea de Vehículos para Latinoamérica), although Fiat withdrew in 1995. Currently Sevel builds the Fiat Ducato, Peugeot Boxer and Citroen Dispatch vans.
The joint venture with the Chinese company Dongfeng was established in 1992 and produces the 207, 307 and 408 models at factories in Wuhan and Xiangyang.[12]
In 2002 the joint venture with Toyota Motor Corporation for the development and manufacturing of a series of city cars in a new factory in the Czech Republic was signed. The resulting company is called TPCA (Toyota Peugeot Citroën Automobile) and it currently manufactures the Citroën C1, Peugeot 107 and Toyota Aygo.[13]
The Kaluga factory was built by the Russian based joint venture between PSA Peugeot Citroën (70&) and Mitsubishi Motors (30%) established in 2011. The site builds the joint venture Peugeot 4007, Citroën C-Crosser and Mitsubishi Outlander, and the Peugeot 308 and Citroën C4.[14]
In 2011 PSA Peugeot Citroën and BMW agreed an equal joint venture to develop and manufacturer hybrid components including battery packs, generators, power electronics and chargers, and software for hybrid systems.[15]
A 50-50 joint venture with the Chinese Chang'an Automobile Group. Based in Shenzhen with an initial annual production capacity of 200,000 vehicles & engines.[16]
The Company also invested () 4 billion for establishing new plant in Gujarat, India[17]
In 2008 the company investigated the option to buy Mitsubishi Motors but a deal could not be concluded and was called off in 2010.[18] One outcome of the talks resulted in the Mitsubishi Outlander and Mitsubishi i-MiEV to be sold as Peugeot and Citroen in Europe from 2010.[19]
There was also a new agreement with PSA and BMW; the new Prince engine was designed by this joint venture and replace PSA's old TU engine family.
PSA, in a joint venture partnership with Ford Motor Company since 1998,[20] currently supplies 1.4L, 1.6L, 2.0L and 2.2L diesel engines used in the various models by Ford and its subsidiaries. In return, PSA gets diesel engines with displacement of 2.2L and above, suitable for large passenger cars and commercial vehicles.
PSA also sell their engines, gearboxes and other parts for minor companies like Side-Bike, DeLaChapelle, PGO and others.
The head office of PSA Peugeot Citroën is located in the 16th arrondissement of Paris.[21][22] The 50,000-square-metre (540,000 sq ft) 1961 building houses around 2,000 employees. 900 square metres (9,700 sq ft) of space in the lobby includes an automobile showroom.[22]