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Groupe PSA

PSA are a French OEM that sells cars and light commercial vehicles under the following brands: Peugeot, Citroën, DS, Opel and Vauxhall. This page contains research on PSA's activities and strategy.

Automotive Research -- Where to find their official news and financial results...

Below are the details for the investor relations and media sites for both Groupe PSA and Faurecia. PSA's financial reporting consolidates Faurecia but often summarises information that can only be found at a detailed level by looking at information independently published by Faurecia.

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ANALYSIS OF GROUPE PSA

Research: How combining PSA with Opel and Vauxhall will yield savings -- March 2017

Our analysis of the savings the combined business will be able to make, in part a fact check of PSA's own claims made during their 6th March presentation (found here).

  • We believe PSA's €1.7 billion / year cost saving target to be achievable (and think that there could be more to come)
  • We think that the manufacturing and administrative savings PSA are targeting will require around 6,000 - 8,000 job losses

We are keeping this piece of work under review as PSA make announcements (for instance, PSA Madrid may have a future until 2025). We will publish an update when more substantial detail emerges that would change our overall conclusions.

Automotive research, Automotive strategy, Automotive trends, Auto industry trends, Automotive market research, Auto industry news

GROUPE PSA BENCHMARKING DATA

Example datasets shown below, please contact us to discuss more specific requirements such as plant capacity, sales and production data or headcount history.

PSA Automotive Indicative Headcount by Site -- 2016

Opel / Vauxhall Indicative Headcount by Site -- 2016

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PSA IN THE NEWS

This information can also be found on the weekly news review.

December

  • Reportedly meeting with French unions to discuss a new labour law that came into force during December. There is speculation that PSA wish to use the new regulations to make it easier to separate employees. (Les Echos)
  • Faurecia will acquire heavy truck engine emissions specialist HUG Engineering. (Les Echos)
  • Announced a series of executive moves. (PSA)
  • Announced that it had agreed a new labour contract with German unions. There will be an early retirement offering, with employees aged 57 and over eligible; contracted working hours will be 35 hours per week in lieu of 40 (saves money with no practical impact since PSA says the areas are underutilised); engineering and administration teams will work less than full hours over the next six months with the government refunding the lost time; the bonus scheme will reflect PSA’s turnaround plan. The company and unions also agreed to work on projects that will increase employee productivity and make it easier to move between jobs and locations. (PSA)
  • Reorganised the purchasing divisions of Opel/Vauxhall and the rest of Groupe PSA into a single unit, effective January 2018. PSA believes that it will ultimately save around €500 million annually from the move. (PSA)
  • Plans to double sales in Mexico (from 9,000 in 2017 ~0.6% share) by 2021, primarily through SUVs. (France Info)
  • Announced a 50/50 JV with Nidec to develop and produce electric motors for vehicles, with PSA as the anchor customer. The manufacturing base will be in France. (PSA)
  • Created a concept urban mobility vehicle as part of a European consortium with public funding. The vehicle is a PHEV using 48V electrification and an engine from a scooter. (PSA)
  • CEO Carlos Tavares was appointed head of the European manufacturers association, ACEA, for 2018. (ACEA)

November

  • Said that Russian production of 1T CVs would commence in Q1 2018 and that the vehicles would have 50% local content -- an improvement on the c. 35% local sourcing of C4 and 408. (PSA)
  • Reportedly considering trying to reclaim some of the purchase cost of Opel / Vauxhall from GM because of the poor state of the brands’ 2020 emissions compliance plan. A figure of €600 million - €800 million has been mentioned. GM publicly said no claim had yet been made formally and extensive due diligence had taken place. The central issue appears to be GM’s assumptions for mix-forcing into diesel and all-electric vehicles. (Reuters)
  • Warned Opel unions in Spain that the Zaragoza plant may not build the electric version of the Corsa, due sometime after the launch of the next conventionally powered model in 2019, without a competitive agreement. The offer from PSA/Opel is reportedly a (6)% decrease in wages for 2018 and wage freeze in 2019/20, in addition to reductions in break times and shift allowances. (Europa Press)
  • Reportedly having to increase gasoline engine production in China even further due to falling diesel sales in Europe, importing an additional 100,000 engines versus prior estimates of 50,000 units. PSA is apparently routing the imports through the engine plant at Douvrin rather than direct to assembly plants, creating logistical complexity. (Les Echos)
  • Completed the sale of all land at the former Aulnay site. (Journal Auto)
  • Citroën dealers in Germany are reportedly outraged at the company’s proposal to change their incentives from 2018 onwards. The key issue is the company’s desire to link more of the margin to dealer satisfaction surveys. (Autohaus)
  • Said that it will no longer build a new engine plant in Slovakia and will build engines in an existing Opel plant instead. (Les Echos)
  • Announced the appointment of a new importer for the Opel brand in South Africa. (PSA)
  • Has launched an e-payment platform, administered by its finance arm in partnership with a bank and online payments company, to be used across the range of mobility services PSA will offer. (PSA)
  • Said it had learned from the failure of its Berlin carsharing operation Multicity that in future it must provide more vehicles and suffered from having a 3rd party (in this case DB) run the software platform. (Usine Nouvelle)
  • Reportedly planning to create work for Opel’s Rüsselsheim engineering centre through a massive cull of engineering agency resource (around 1,200 people) that PSA has traditionally used. (Les Echos)
  • Said that it has 450,000 users of its Free2Move app and that it is developing a secure internet-of-things platform with Huawei. (PSA)
  • Released details of its turnaround strategy for Opel and Vauxhall, named PACE! (as in speed, not an olive branch to anxious unions). The plan relies on cost cuts in external material purchasing, manufacturing and engineering; improved brand position and revenue; and an expansion of products and markets -- particularly LCV where Opel / Vauxhall aim to increase sales by 25% by 2020. Although PSA was keen to stress that there was no need for job cuts (recent Ellesmere Port announcements notwithstanding), it isn’t clear how financial targets will be achieved without them, especially since there is an explicit target of lowering the breakeven point from an unknown level today to 800,000 units per annum. (PSA)
  • Finalised a joint venture to manufacture cars in Algeria with three local partners. Operations will start in 2018 and reach full production in 2019. (PSA)
  • Has recently increased the price of the all-electric Opel Ampera-e (Chevrolet Bolt) by $5,000 in some European markets, blaming GM for the price hike. (Electrek)
  • Opel’s integration into PSA has begun in earnest, with the Opel France sales team moving into shared premises with the other PSA brands. (Journal Auto)
  • Announced the completion of the captive finance operations for Vauxhall and Opel and the appointment of a new management team. (PSA)
  • Reportedly planning to add workers to the night shift in Mulhouse for production of 2008 and DS7. No new hiring will take place as the additional labour will come from the C4 / DS4 line. (Journal Auto)
  • Suffered production stoppages in Rennes as temporary workers protested over wage slip irregularities. (France 3)

Q3 Financials (October)

  • Reported group Q3 revenues (PSA only reports profits every six months) of €14.99 billion, including 2 months of Opel and Vauxhall revenue. For the core PSA vehicle division (excluding Opel/Vauxhall), revenue of€8.42 billion was up 11.6% on a year-over-year basis. PSA’s CFO said that the company had suffered supply problems, describing inventories as “a bit low”, with the exception of Opel and Vauxhall which he said were “very high”. The company also acknowledged ongoing weakness in China, but said it was no longer a “downward trend”. (PSA)

October

  • Said at the launch of the refreshed Citroën C4 Cactus that it would be discontinuing the C4 hatchback and looking to return to the segment in a few years. (Autocar)
  • Said that it would be presenting the Opel / Vauxhall turnaround plan in November but refused to be drawn on exact dates. (PSA -- webcast)
  • Reportedly looking to sell one of its Chinese factories due to weak demand for the model produced there. (Les Echos)
  • CEO Tavares said in an interview that production costs at Opel factories were 50% higher than at French PSA plants and that Opel was in danger of missing 2020 feet average CO2 (Reuters)
  • Opel dealers in Norway have been told to stop taking orders for Ampera-e vehicles (Chevrolet Bolt) and to put customers on a reservation list, with a likely delivery date no sooner than 2019. (no)
  • Will expand its emov all-electric car sharing scheme in Madrid to 600 vehicles in total (memo: it recently said it would shutter activities in Berlin). PSA says that the Madrid operation has an average user age of 36, 71% of customers are men and the average travel time is 20 minutes. (Auto Factil)
  • Has created a peer-to-peer platform called carventura that will enable used car sales by providing secure payments, price appraisals and limited warranties. (PSA)
  • Will reportedly announced 400 job cuts at Vauxhall’s Ellesmere Port, UK plant as part of a down rating of the plant from two shifts to one early in 2018. (BBC)
  • The head of the Galician regional government said that PSA’s Vigo, Spain plant would be making more than 500,000 vehicles a year by 2020. That would be an increase of around 10% from today’s level. (Europa Press)
  • Said that it was allocating new products to factories in Sochaux and Mulhouse that would ensure a “robust” level of manufacturing for the next ten years. Both plants will manufacture only EMP2 (C/CD) products. The vehicles will only be revealed later “for strategic reasons”. (PSA)
  • Will reportedly close its all-electric Multicity Berlin car sharing scheme in the face of competition from Car2Go and DriveNow (owned by Daimler and BMW respectively). (Auto Rental International)
  • Announced the US launch of its Free2Move service. The brand has started operations in Seattle where it offers a range of car and bike sharing services on its platform. (PSA)
  • PSA’s head of development appeared to indicate that the company was trying to phase out GM-designed engines from Opel vehicles as quickly as it could. He said that Opel vehicles would start using PSA engines and that the company wanted end “payments for licencing fees as quickly as possible”. (In Auto News)

September

  • Will develop a one-ton pick-up truck with ChangAn. The vehicle will be built in China for domestic and overseas markets. A small pick-up truck was a key open item from the “Push To Pass” product portfolio. (PSA)
  • Opel will combine sales and marketing into a single function following the departure of their former head of marketing at the end of September. (Opel)
  • Held a Capital Markets Day on 20th September that covered Peugeot, Citroën and DS brands (Opel to follow later in the year). PSA highlighted their electrification strategy, product plan and the expected positive mix effects. (No online materials currently)
  • The head of aramisauto.com, the used car sales platform PSA acquired, gave an interview about the operations of the subsidiary. In particular he said that he thought PSA was not at risk of cannibalisation by launching multiple used vehicle channels (it has another call cardays.fr) and set the Group target of 800,000 used car sales by 2021 in context -- in 2016, aramisauto sold 32,000 units. (Journal Auto)
  • There was speculation in the German press that a lack of supply of Opel Ampera-e BEVs, blamed in part on Opel’s desire to direct stock towards the Norwegian market, might actually be because Opel intends to withdraw the car from sale due to its lack of profitability. (Golem)
  • Will reportedly launch a next generation Citroën C5 in 2020, following on from a new Peugeot 508 and DS DS5 in 2018. (Autofactil)
  • Senior executives expressed frustration with the pace of Brexit talks saying that if they had to wait 2-3 years for clarity on the business environment, there was “a big question mark about our future investment” in the UK (i.e. Vauxhall). (Bloomberg)
  • Announced an employee-only share sale aiming to raise €25 million. (PSA)
  • The French fraud prevention office reportedly believes PSA may have calibrated diesel engines to perform only during homolgation tests, affecting two million vehicles. PSA said it was “outraged” by the claims and pointed to a earlier French government report which said the company done nothing wrong. (Les Echos) & (PSA)
  • Has been working with self-driving start-up AIMotive since May on self-driving technologies. AImotive say that their self-driving solution can be applied to any vehicle. (TechCrunch)
  • CEO Tavares gave a joint interview with the new Opel CEO in which he said that PSA would provide electrification technologies to Opel but that the company must use them profitably. (Reuters)

August

  • Completed the move from its central Paris Grand Armée headquarters. (Les Echos)
  • Is recruiting more workers in Mulhouse to satisfy demand for Peugeot 2008 vehicles. Sources reported that up to 800 new temporary positions were being created. (France Info)
  • The head of Faurecia said that the company was ready to make a major acquisition to give it a fourth “leg” beyond seats, interiors and exhaust treatment. He told French media that he is preparing options ahead of an October board meeting but currently no contact has been made with potential targets. (Les Echos)
  • Vauxhall said that its £2,000 UK scrappage scheme had been taken up by over 5,000 customers in 2017. Vauxhall called its scheme “much copied”. 63% of the cars being traded in are from other brands. (Vauxhall)
  • Opel said that 50,000 orders for its new compact SUV the Crossland X had been taken since launch in March (cars are only recently arrived in dealerships). (Opel)
  • Opel has now announced a series of scrappage incentives in Germany. Similar to Ford’s strategy, Opel is offering much larger discounts on bigger cars that on small ones. (Handelsblatt)
  • Opel trumpeted that the Insignia had gathered 50,000 orders so far, with a over 60 percent of customers choosing the highest trim levels (which is often the case when dealers first order brand new models). (Opel)
  • Announced that it had received approval to take over the financial services business of Opel and Vauxhall (in partnership with BNP Paribas). (PSA)
  • Announced the closure of the deal to buy automotive elements of Opel and Vauxhall (the financial business sale is still ongoing). The clock is now ticking on the 100 day plan. PSA also announced a series of executive management appointments, with PSA managers taking over the Finance and Manufacturing briefs. (PSA)
  • The press release for the sale of Opel and Vauxhall re-affirmed that PSA and GM will work together on electric propulsion. (GM)

Q2 Financials (July)

  • Announced first half 2017 financial results. Automotive operating income of €1.44 billion was up 10.7% on a year-over-year basis and gave an operating margin of 7.3%. Automotive revenue was up 3.6% YoY. (PSA)
  • Announced June and first half sales figures. The group sold 1,580,000 units in the first half, an increase of 2.3% on a year-on-year basis. Sales fell in Europe but performance of 3008 was particularly strong, with PSA reporting an order backlog of almost 100,000 units (memo: PSA keeps announcing production increases for this vehicle). (More…)
  • Faurecia reported first half results and raised full year 2017 guidance. (More…)

July

  • Expanded its European online offering so that consumers can now purchase new PSA vehicles in France entirely online (final delivery will still be via a dealer). (More…)
  • Faurecia reported first half results and raised full year 2017 guidance. (More…)
  • Faurecia said that it was taking a majority stake in Chinese supplier Jiangxi Coagent Electronics by investing €193 million and together they would develop “the cockpit of the future”. (More…)
  • PSA’s union leaders reflected on the year that has passed since new employment conditions were agreed. They praised the tele-working arrangements for salaried staff but criticised the impact of volatile production planning on assembly workers. (More…)
  • Launched a website named cardayz.fr that is a platform for used vehicle sales. The complete offering will include physical sites and will also enable people to sell their used cars to PSA in a no-haggle transaction. (More…)
  • Reportedly struggling to recruit enough temporary staff to increase production of 3008 in Sochaux to meet demand. Apparently only 600 people have so far been hired for a 1,500 member weekend shift. (More…)
  • Said it was working with VINCI on communications between vehicles and infrastructure. The project appears similar to, but smaller than, the SCOOP initiative that Renault is involved in. (More…)
  • Vauxhall has launched fixed price urea top ups for SCR equipped diesel vehicles. (..)
  • The European Union announced that it had approved the sale of Opel and Vauxhall to PSA. The EU statement noted that in Estonia and Portugal the combined entity would have a 40% market share in small commercial vehicles but took no action. (More…)
  • Faurecia announced that it will create a joint venture with (PSA’s part-owner) Dongfeng to provide clean mobility technologies to Dongfeng-affiliated OEMs. (More…). It also announced a new JV with Wuling to produce seating. (More…)
  • Is in conflict with one of the smaller unions at the Vigo plant. The union is complaining about the line rate increases PSA has imposed and is threatening strike action. PSA has refused to negotiate saying that the union represents less than 20% of workers at the plant. (More…)
  • Created a research partnership with Moroccan and US universities called OpenLab to look at sustainable mobility in Africa. (More…)
  • PSA’s site at Sept-Fons was blockaded by the workers of GM&S, unhappy at the progress being made to avoid a liquidation of the company. PSA had to take emergency measures including the use of helicopters to retrieve parts and the blockade was lifted after a few days. (More…)
  • France’s finance minister announced that the government would put €10 billion towards innovation, with the money coming from the sale of various company stakes owned by the government. He declined to name the potential sales -- PSA was an inevitable target of speculation. (More…)

June

  • After discussions with the French government, PSA committed itself to €12 million of annual orders from troubled supplier GM&S and to make a shared investment (with Renault) of €10 million in the site from 2018. This appears to pave the way for a takeover of GM&S by GMD. (..)
  • PSA discussed their plans for electric drivetrain manufacture, including locations for motor and pack assembly. The company appeared not to rule out developing its own battery cells but said it is not the preferred approach and that PSA believes there is proprietary knowledge in the software that controls charging and discharging. (More…)
  • Has launched a store in France that uses virtual reality instead of display models to sell cars and plans to have 30 such sites in operation across Europe by 2030. (More…)
  • Said that it will supply 55,000 3 cylinder engines from its Chinese JV plants between July 2017 and May 2018 to meet demand in Europe rather than increase capacity in European plants. (More…)
  • GM held a conference call to give an update on its financial forecast for the Opel / Vauxhall sale and US industry. The Opel / Vauxhall sale will incur $5.5 billion of special charges (up from $4.5 billion) and that from Q2 onwards the business will be reported as “discontinued operations”. GM also gave details of the way that profits and revenues will be impacted by the sale. US industry is now expected by GM to be in the “low 17 [millions]” as opposed to “min 17 [millions]” previously -- the main trends are a weakness in passenger car sales and lower residual values. GM plans considerable inventory reductions for passengers cars by year end versus its current position. (More…)
  • Announced it was issuing about 45 million new shares following the exercise of non listed stock warrants. (More…). French state bank CDC also reported that following recent transactions its stake in the company was 12.2% (More…)
  • PSA gave some further details of its autonomous driving launch plan. Level 3 systems (branded as Traffic Jam Chauffeur and Highway Chauffeur) will be offered from 2020 however the service will only be available in geo-fenced areas (roads that PSA has pre-vetted). PSA plan Level 4 cars by 2025. (More…)
  • Saw its wholly owned dealer group launch a Europe-wide discounting program called “Summerdayz 2017”. It wasn’t clear whether this was in line with PSA’s brand-building approach or represented significant discount activity. (More…)
  • PSA’s director in Spain and Portugal said that gasoline vehicles will shortly overtake diesels in popularity in Spain. He believes that as current leases are renewed the market will mostly choose gasoline or (gasoline-based) hybrid products. (..)
  • CEO Tavares gave an interview where he said that following the closure of the deal to buy Opel and Vauxhall, a profitability plan would be created within the first 100 days and the incumbent team would be told to implement it. It was speculated that this could mean presentation of the plan at the Frankfurt motorshow in September. Tavares said that the only way that employees could be protected was by being profitable. (More…)
  • Production of Peugeot 308 vehicles was halted temporarily due to a shortage of parts from Benteler, according to union sources. (More…)
  • As rumoured, the CEO of Opel confirmed that he will be stepping down. Although he remains with Opel for a transitionary period, he is no longer the CEO and has been replaced by the CFO Michael Lohscheller. (..). PSA support the appointment. (More...)
  • Opel unveiled a new “credo”, defining the brand in five simple words: “the future is everyone’s”. Alongside this, the brand has also updated its logo, there is a new Opel Blitz. Both changes coincide with the launch of the Insignia CD car. (More…)
  • Announced that it had agreed terms with its Chinese JV partner ChangAn for local production and sales of the DS brand. (..)
  • The sale of Opel / Vauxhall to PSA may reportedly be completed sooner than expected (end of July) (..).

May

  • Appears to have overcome German works council resistance to its takeover of Opel and satisfied its demands for guarantees matching those given by GM. Worker communication meetings that had previously been cancelled are now scheduled to go ahead in coming weeks. (..)
  • The head of Russian Railways has reportedly said that it may sell part of its stake in GEFCO (in which PSA owns 25%) and that “50 percent plus one share” is a sufficient holding. (..)
  • Said that it wants to increase the size of its aftermarket business in Italy by a multiple of five over the next four years (..)
  • Said that it had restructured its French sales operations into a single legal entity. The main benefit is that two sets of employee benefits and working practices will become aligned. (More…)
  • Lost out in the bidding for Malaysia’s Proton and UK’s Lotus to Geely. (..)
  • The sale of Peugeot Automobile Nigeria, with its 90,000 unit capacity plant, reached another milestone with the CEO if AMCON (the seller) saying that only central bank approval was needed to complete the sale to Aliko Dangote. (..)
  • PSA and Aisin reportedly in talks to extend their existing cooperation on gearboxes. The proposals reportedly include PSA licensing Aisin designs for in-house production. (..)
  • Media speculated that the sale process for Proton is reaching a close. PSA is one of the two final bidders. (..)
  • Signed a joint venture agreement with SC Uzavtosanoat to produce light commercial vehicles is Uzbekistan. The licence will be for production of up to 16,000 vehicles per year from 2019 (including for export). (..)
  • Faurecia announced an exclusive agreement to develop carbon fibre composite fuel cell tanks based on technology from aerospace company Stelia Aerospace Composites. (..)
  • Faurecia said that it was joining a German cluster researching carbon composites with the aim of introducing them into production vehicles in the early 2020s. (..)
  • PSA’s Vesoul Facility had a fire that destroyed a building on the site. No downtime will result from the blaze. (..)
  • Management and unions at the Rennes factory agreed to add workdays due to the success of 5008. (..)
  • Announced further increases in personnel at Sochaux to deal with demand for the 3008 SUV as well as expected orders for Opel / Vauxhall’s Grandland X. The plant will recruit a further 1,000 people who will staff a 28 hour weekend shift running from Friday to Sunday. Product rate of 3008 will increase from 700 to 1,000 per day as a result. Union representatives have expressed concern that there will be too many temporary positions at the plant. (..)
  • Had a tax incentive of around €19 million approved by the Slovak government to support PSA’s investment of about €165 million in its factory there. (..)
  • Received shareholder approval for the purchase of Opel and Vauxhall. (..)

Q1 Financials (April)

  • PSA reported Q1 revenues (PSA only reports profits every six months) of €13.6 billion, €9.0 billion of which was generated by the automotive division (excludes the Faurecia parts division). Overall revenues were up 4.9% year over year and automotive revenue was up 2.5% (product mix of 3.7% partially offset by exchange deterioration). Vehicle sales of 729,424 were up 4.2% versus Q1 2016. (..)

April

  • Said that it will form a strategic partnership with nuTonomy to test autonomous vehicles in Singapore. nuTonomy already has a test program running in the city state, thus far using Renault Zoe vehicles. The program with PSA will use Peugeot 3008 SUVs and aims to launch by September. (..)
  • Received media coverage of its attempts to improve the dealer experience for customers and make the sales process feel more modern. (..)
  • Faurecia and ZF announced a strategic partnership for interior and safety technologies. The collaboration will involve no capital exchange and supports Faurecia’s “cockpit of the future” strategy. (..)
  • PSA will invest €144 million in its Madrid plant to build a new model from 2020 and produce at least 100,000 units per year. The vehicle was not named but will be on the CMP platform and will guarantee the plant’s future to 2025. As one of PSA’s smallest plants, it had looked as though Madrid was at risk following the Opel merger. (..)
  • Launched a project called “GridMotion” with the Technical University of Denmark to evaluate real world savings from vehicle to grid technologies, in particular varying the time of day that the vehicle charges and discharges. (..)
  • Opel confirmed that the next-generation Corsa is being designed on the PSA B-Car platform. This could allow the vehicle to be built in several factories if necessary. (..)
  • Saw French investigating judges begin a case against it relating to diesel emissions, PSA denies any wrongdoing. (..)
  • Will reportedly recruit even more temporary employees at the Rennes plant. The number is now forecast to be around 500 people rather than the figure of 400 previously announced. (..)
  • Production of the 3008 SUV was reportedly disrupted due to a lack of parts from Czech supplier Recticel. Around 2,000 vehicles were said to have been lost with 8 half-shifts cancelled. (..)
  • Saw German media speculation that leaders of its German marketing and sales arm have been replaced because of overly-aggressive discounting. (..)
  • Vauxhall was criticised by UK MPs for its slow recall of vehicles at risk of fires. (..)
  • Employees of troubled supplier GM&S returned to PSA’s Poissy plant to try and blockade it. The day before, GM&S employees attempted to occupy PSA’s showroom in central Paris. (..)
  • CEO Tavares said at the Shanghai auto show that he was unhappy with the performance of its Chinese JV and that the unit needs “a new business model” and “much more cost reduction”. (..)
  • Announced management changes at Faurecia, Michel Rosen will be the new president, joining from satellite company Eutelstat (..)
  • Reported that 3 months after its launch, 100,000 people have already used its car-sharing service in Madrid. The service is branded emov under the Free2Move banner and has a fleet of 500 vehicles. PSA said that new customers are registering at a rate of 1,000 per day (Source)
  • Announced the first element of its North America relaunch (part of the Push To Pass strategy) with car sharing operations at Los Angles airport run in partnership with TravelCar. As part of the move, PSA created a new North American legal entity and appointed an ex-TrueCar executive to head it (Source)
  • French press expressed concern at the level of management turnover in the scooter business, 49 percent owned by PSA (Source)
  • Saw the Algerian prime minister say that approval for a local PSA plant would be concluded during 2017 (Source)
  • BlaBlaCar announced a scheme where drivers can lease Opel vehicles at discounted levels (Source)
  • The relationship between Opel / Vauxhall and the German Works Council seems to have improved and the Works Council has reduced its public statements threatening strikes (Source). This followed a press release where GM tried to provide reassurance about the process towards the sale. (Source)
  • German prosecutors said they had concluded Opel did not use any diesel emission cheating software. (Source)

March

  • 160 employees of GM&S, a supplier in receivership, blockaded the PSA plant in Poissy because they accuse PSA and Renault of withdrawing business from the company, forcing it into a potential liquidation (283 employees total).
  • A French TV broadcast compared the Douvrin (engine) plant in France with the Trnava plant in Slovakia (makes cars, engine plant to open in 2019) and expressed concern over production losses in France, in part because of lower wage rates, put at €664 / week in Trnava versus €1,176 / week in France.
  • Renewed its partnership with fuel company Total, PSA will continue to recommend Total’s products for the next five years and Total will sponsor some of PSA’s racing efforts.
  • The French government announced one of its arms - investment agency APE - had sold its stake in PSA to another arm - sovereign wealth fund Bpifrance - allowing EPA to book a gain of €1.1 bn on the sale
  • Ran a two day scheme (28th and 29th March) to allow members of the public living in or near Paris to travel in its autonomous test vehicles
  • Drb-Hicom confirmed that all the parties that had made bids for Proton are “still in the running”
  • Faurecia and Parrot announced a collaboration on connected cars. As part of the deal, Faurecia takes a 20% stake in Parrot and will expect its stake to rise to 50.01% in 2019 with a possible put option for a Faurecia takeover by 2022
  • Vauxhall will end its sponsorship of the four UK national football teams after the World Cup in 2018.
  • Opel’s Works Council reportedly has threatened strike action unless they receive written (as opposed to verbal) assurances about protecting Opel’s workforce post-takeover.