PSA, Groupe PSA, Peugeot, Citroen, DS, Opel, Vauxhall. Automotive trends, Auto industry trends, Automotive market research, Automotive market analysis, auto industry news

Groupe PSA is a French OEM that sells cars and light commercial vehicles under the following brands: Peugeot, Citroën, DS, Opel and Vauxhall. PSA also has a controlling interest in supplier Faurecia. This page contains research on PSA's activities and strategy.

Automotive trends, Auto industry trends, Automotive market research, Automotive market analysis, auto industry news

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. We will publish an update when more substantial detail emerges that would change our overall conclusions.

Automotive trends, Auto industry trends, Automotive market research, Automotive market analysis, auto industry news



  • Has reportedly been cutting production rates at several Opel factories: Rüsselsheim is going from 55 vehicles per hour to 42; Eisenach is going from 37 to 30 and Gliwice has reduced from 40 to 25 cars per hour. (FAZ)
  • Said Opel / Vauxhall’s 7.5% margin turnaround on a half-over-half basis was: 1.7% pricing; 4.6% cost reduction; 2.1% of lower D&A (post write-downs), partially offset by (0.9)% of unfavourable exchange. Although, on a half-over-half basis, volumes seem to be up by around 17%, this was absent from the explanation. (Seeking Alpha)
  • Said that average revenue for the DS7 Crossback in Europe is €45,000 and more than 53% of customers were specifying the driver assistance system. (Seeking Alpha)
  • Will make an announcement on the future portfolio for the Indian market “very soon”. (Seeking Alpha)
  • Opel’s CEO said the announcement that the brand’s line-up would have electrified versions of all models by 2024 should be a “strong clue” that there will be no more GM-sourced products by that time. (Autocar)
  • Faurecia invested in stereo company Subpac. (Faurecia)
  • Developed a shortlist of 15 US states and four Canadian provinces for a base of operations supporting PSA’s re-entry into the US market. (Motor1)
  • Opel vehicles are reportedly the subject of investigation by the German regulator, the KBA, with up to 60,000 vehicles under suspicion of failing to meet emissions standards. (Bild)

Q2 2018 Financial Results

  • Reported financial results for first half of 2018 that markedly beat expectations. Automotive revenue of €32.1 billion was substantially up on a year-over-year basis, even accounting for the boost from Opel Vauxhall. Operating income in the Peugeot, Citroën and DS brands was €1,873 million, an increase of almost 30% on a year-over-year basis and a margin of 8.5% (excluding restructuring costs). For Opel and Vauxhall, a 5% margin (excluding restructuring costs) was reported, reversing many years of poor performance under GM, seemingly overnight. (PSA)
  • Faurecia reported financial results for the first half 2018. Sales of €9.0 billion were up 10.9% versus a year earlier when excluding currency effects. Operating income of €647 million was up 11% YoY. The company saw growth in revenue across segments and regions. Faurecia increased its full year guidance. (Faurecia)
  • Sold 2,181,800 vehicles in the first half of 2018, an increase in 1.9% on a like-for-like basis (PSA’s headline figure YoY of 38.1% includes inorganic growth from the purchase of Opel / Vauxhall. (PSA)


  • Exploring a full or partial sale of Opel’s R&D facilities, according to leaked internal documents from May, with four engineering service providers having been approached. The targeted areas, affecting 3,980 employees, could reportedly create a business worth €500 million. German unions pushed back against the idea. (Reuters)
  • Faurecia said it had finalised terms for the long-planned takeover of Parrot. (Faurecia)
  • Created an artificial intelligence lab based in France. (PSA)
  • Starting Free2Move branded car sharing in Paris, potentially in competition with Bolloré (and now Renault). (PSA)
  • Reportedly working on an all-electric Peugeot 208 GTi hot hatchback. It is already clear that the 208 range will feature a BEV in some form. (Evo)
  • Started production of the latest generation of light commercial vehicles (Peugeot Partner, Citroën Berlingo and Opel / Vauxhall Combo). (PSA)
  • PSA believes that 120 million km of test mileage are necessary to verify self-driving on highways -- with greater distances required for rural roads and cities. (PSA)
  • Faurecia announced an updated credit facility, providing €1.2 billion until 2023. (Faurecia)
  • Executives said that PSA wants to be a fast follower rather than first mover on electric vehicles. (Automotive News)
  • Appointed a new CFO, promoting the current CFO of Opel. (PSA)
  • Said that the cost of development for new Opel models had been reduced by between 20% and 50% through integration into PSA and component sharing and that by 2024 all Opel and Vauxhall passenger cars will be on PSA platforms. (Opel)
  • Faurecia signed a strategic partnership with FAW Group, with a view to partnering in the development of a high quality interior for the Hongqi brand. (Faurecia)
  • Introducing an upgraded four cylinder petrol engine family from 2022 onwards based on PSA’s (not GM’s) current 1.6 litre engine. (Opel)
  • Workers at Peugeot Scooters (PSA owns 49%, 51% held by Mahindra) are becoming restless over the failure to provide a compelling recovery plan. If workers become disaffected, Sochaux is a likely target. (Les Echos)
  • Began suspending its activities in Iran following the US withdrawal from the nuclear weapons monitoring deal, although it hopes to win an exemption and continue operations. PSA stressed that Iran accounted for less than 1% of revenue and so its profit guidance remained unchanged. (PSA)
  • Created a fourth shift at the Vigo, Spain plant, employing 900 temporary workers due to demand for Partner and Berlingo vehicles. (Europa Press)
  • Executives said the first Free2Move will begin offering leasing deals outside Europe from 2019. (Europa Press)
  • Launched the new-look Opel in-car entertainment system, starting with the Insignia. (Opel)


  • Reached a deal with German Opel unions that will see jobs guaranteed at three sites until 2023 and the sourcing of the Grandland X to Eisenach on a two-shift pattern from 2019. Unions have agreed that 3,700 staff can leave on a voluntary redundancy program (most have already signed up) and that wages will be frozen until at least 2020. Although forced redundancies are out of the question, the unspecified measures to improve competitiveness may not preclude more voluntary redundancy. (Opel)
  • Will shed 500 temporary staff in Mulhouse after consolidating all production on a single line. (Usine Nouvelle)
  • Faced allegations of price fixing for spare parts in cooperation with Renault. According to the claims, the two companies used Accenture as an intermediary, with the consulting company identifying areas where both companies could raise prices. PSA and Renault both denied wrongdoing. (Manager Magazin)
  • Reportedly investing to increase petrol engine machining capacity at Douvrin. (Les Echos)
  • Opel’s German unions demanded production and employment guarantees until 2025 for all sites as the price for a wage freeze and increased productivity. (Les Echos)
  • Improved the terms of its €3 billion revolving credit facility. (PSA)
  • Peugeot’s UK sales chief said the brand had “no real desire to get back into the real hot hatches”, expressing a preference for crossovers. He commented on the company’s emphasis on capital efficiency, citing RCZ as an example of the type of product PSA would no longer green light because, although “lovely to have for some of our motorsport fans”, due to small volumes the vehicle “would never make any money”. (Shropshire Star)
  • Faurecia held a capital markets day, providing detailed 2020 financial targets and some outlook to 2030 for emerging sectors. By 2020, the company is aiming for €20 billion of revenue and operating margins of 8%. (Faurecia)
  • Used car sales arm AramisAuto acquired Belgian company Cardoen for “tens of millions of euros”. (Les Echos)
  • Announced some changes to the executive team, the VP for Eurasia was re-assigned to work for the Opel sales and marketing director, indicating either a massive demotion or a special projects role ahead of retirement. (PSA)
  • In talks with French unions to increase the working week, from 35 hours to 37.5 hours in return for a 2.8% pay increase. Although PSA are only currently asking about one plant, unions fear setting a precedent. (France Info)
  • Opel is shutting its national sales companies in Sweden and Denmark and will instead use an importer. (Opel)
  • Opel’s works council agreed to allow workers already signed up for early separation to leave, subject to a cut-off date at the end of May, but younger workers will no longer be able to apply for the program. Opel’s CEO claims fixed costs have already been reduced by 17% from when PSA acquired the company. (Handelsblatt)
  • Faurecia invested in wireless charging start-up Powersphyr. (Faurecia)
  • Selected Punch Powertrain, suppliers of an integrated dual clutch transmissions and 48V motor, to provide electrified drivetrains, with a view to potentially in-sourcing production to a PSA plant. (PSA)
  • Opel will use a PSA-supplied connectivity package and phase out GM OnStar (only launched in vehicles recently) at the end of 2020. (Opel)
  • Vauxhall and Opel are reportedly planning a hybrid-only sports hatchback “VXR” trim level. (Auto Express)
  • Hopes to sell 90,000 508s each year (70% diesel mix), once the refreshed version comes out. (Les Echos)


  • Opel’s CEO said the plan for the next generation Mokka X had been completely changed since the PSA takeover because the intended GM platform was “heavy and doesn’t offer electrification”. (Auto Express)
  • CEO Tavares offered to share benchmarking data, including cost and operational details of PSA plants outside Germany, to convince German unions of the case for change. (Manager Magazin)
  • Reportedly hired Tata Consulting to help it improve in low cost cars. The targets are said to be: 90% localisation and production costs 1/3 lower than the best Western plants. (Les Echos)
  • Has merged its UK wholly owned dealers into a single company and is targeting further expansion into Vauxhall sites, recently buying four under the Go Vauxhall brand. (Vauxhall)
  • Will switch some production of 5008 to Sochaux -- partly because of the vehicle’s sales success but also to allow Rennes to create capacity for the C5 Aircross. (France Info)
  • Opel’s works council withdrew its support for the German voluntary redundancy scheme, saying that Opel was trying to separate more people than had been agreed. Opel countered that if extra people wanted to join the scheme, the unions should not be blocking them. (Reuters)
  • German regional politicians said that they were prepared to offer support for energy and property costs at German Opel plants, but would not submit to “blackmail”. (Reuters)
  • In contrast to German Opel unions, British representatives of Vauxhall workers said their “focus” was on the long term future of factories in the UK as they agreed a relatively paltry pay rise -- a £750 lump sum in 2018 and a 1.5% increase in 2019. (Reuters)
  • Vauxhall has withdrawn diesel powered versions of the Corsa in the UK due to falling sales. (Autocar)
  • PSA Chairman Louis Gallois said he will retire in 2020. (Les Echos)
  • Opel has terminated all its dealer contracts in Europe but promised that the main intention was new terms rather than a cull. In Germany Opel said it only wanted to shut 12 out of 385 dealers. (Handelsblatt)
  • Opel’s head union representative in Germany said he was comfortable that the company can reach a proposed 3,700 target for job reductions but that there was insufficient clarity on post-2020 production and job guarantees. (Reuters)
  • German unions were up in arms over PSA proposals for German factories. Consistent with the recent approach in France, PSA has avoided full plant closures but does intend to reduce workload. At the Eisenach plant, the company wants to end production of Corsa and Adam; at the Kaiserslautern engine factory, PSA wants to end machining. Unions say both actions would reduce staffing at the affected plants by around half. The company has responded by saying staff costs in German factories are double those of France. (Der Spiegel)
  • PSA executives met with German government ministers, promising to invest in the country if “performance conditions are met” and pointed to the agreements with unions in all other Opel / Vauxhall locations. (PSA)
  • The head of Vauxhall said that although the dealer body is being reduced by a third “nobody is being sacked”. (BBC)
  • CEO Tavares wondered aloud about the take-up of electric vehicles in Europe “who is taking the 360-degree view?” he asked -- indicating that he does not see the development of the wider electric vehicles ecosystem as something for PSA to lead or manage. (Autocar)
  • Announced the rollout of its Euro Repar service centre operation in Russia, hoping to win business from owners of western brands. (PSA)
  • Launched a new trim level called “Ultimate” for Vauxhall models in the UK. (Vauxhall)
  • Opel has reportedly lost a number of 2nd and 3rd tier executives recently with headhunters saying that current staff (“not the bad ones”) continue to look for new roles. (Manager Magazin)
  • Announced it would invest in a capacity increase at the Vauxhall Luton, UK factory to enable production of up to 100,000 medium commercial vehicles annually. The plant will make the successor to the Vauxhall Vivaro, in addition to sister Peugeot and Citroën products. (PSA)
  • CEO Tavares said that European CO2 regulations are “going to create a Chinese trojan horse in Europe” because they could (in his opinion will) bring at least one carmaker to their knees, creating the opportunity for a Chinese company to buy them up on the cheap. (Reuters)

Q1 2018 Financial Results

  • Reported Q1 2018 automotive vehicle division revenue of €15.1 billion, a 67% increase primarily due to the inclusion of Opel and Vauxhall. (PSA)


  • Said it was “no longer necessary” to retain its 25% stake in logistics provider Gefco now that the end of its lock-in period (which started when it sold 75% of the business) has ended. (Les Echos)
  • Reportedly planning a massive reduction in Vauxhall dealers -- 100 of the 324 sites to go. (Automotive Manager)
  • Opel is reportedly trying to gain union agreement to suspend the German industry-wide 4.3% pay increase; is offering separation terms of up to €275,000 per employee plus a €20,000 bonus for those who sign up quickly. (Handelsblatt)
  • PSA and Dongfeng agreed a joint venture to offer leasing arrangements to customers in China. (PSA)
  • Executives said the company has chosen which brand to use for its re-entry into the North American market but it is “too early” to talk about it. (Car and Driver)
  • Opel’s R&D centre in Rüsselsheim will become a centre of excellence for a variety of Groupe PSA technologies, including manual transmissions and seats. (PSA)
  • Signed a licensing agreement to manufacture automatic gearboxes in France designed by Aisin (the 6-speed EAT6) instead of importing them from Aisin’s factory in Japan. (PSA)
  • Announced a series of changes for powertrain plants. The PSA-developed I3 gasoline engine will be produced in Opel’s Poland and Hungary factories and manual gearbox capacity will be added in Austria (Opel) and Metz. In addition, PSA confirmed the start of electric motor production at Trémery in 2019. (PSA)
  • Peugeot’s head of brand said that the company will “absolutely hit our CO2 targets for 2021”, despite the reduction in diesel sales and without needing all-electric vehicles (although hybrid electric vehicles will be sold). (Autocar)
  • Partnering with the Namibian government to create a local assembly plant with a capacity of 5,000 units per annum. Initial products will be the Peugeot 3008 and Opel Grandland X. (PSA)
  • Faurecia said it had invested in Enogia, a maker of turbines that convert recovered heat into electricity. The product is currently aimed at commercial vehicles and heavy industrial applications. (Faurecia)
  • The company’s Chinese joint venture is reportedly struggling from warring factions of Peugeot and Citroen representatives, a muddled portfolio and a series of ill-plannned office moves. (China Daily)
  • Will launch a motorcycle sharing service in selected Spanish cities. (Europa Press)
  • Investing €14 million in the Charleville foundry, leading to an additional 50 jobs at the site. (Usine Nouvelle)
  • Executives said at the unveiling of the 508 sedan that PSA expects sales of 35,000 to 40,000 units per year and diesel mix of about 70% to 80% (sounds high but down from 90% today). (France Info)
  • Published the latest results of its real-world emissions testing partnership with 3rd party Bureau Veritas. (PSA)
  • In the 2017 FY earnings call, CEO Tavares said that Opel’s wage cost as a % of turnover (PSA’s favoured measure) was 15.3%; and that the company would have a new strategic plan in 2020. (Seeking Alpha)
  • Announced it will take an ownership stake in the vehicle plant owned by Malaysian group Naza Corporation and vehicles on the EMP2 platform will be built there for sales within ASEAN. (PSA)


  • Collaborating with Qualcomm on vehicle to infrastructure and vehicle to vehicle communications. (PSA)
  • Confirmed an all-electric Corsa will be produced from 2020 onwards. There will be four electrified vehicles in the Opel range by 2020. (PSA)
  • Opel’s captive finance unit aims to increase its share of Opel sales to 1/3 of vehicles by 2020. It will launch new services, including financing for fleet sales. (PSA)
  • Said that there are now 600,000 Free2Move customers -- the service covers 30 services in 10 countries. (PSA)
  • Acquired a controlling interest in Chinese spare parts distributor Jian Xin. (PSA)
  • Production in Poissy was disrupted by heavy snow. (France Info)
  • Reached a five year labour agreement with unions at the Zaragoza, Spain plant. Wages will be frozen in 2018 and shift premiums and holiday bonuses will be slightly reduced. (PSA)
  • Free2Move will run a bicycle sharing pilot in Singapore that uses electrically assisted bikes. (PSA)
  • Opel announced new importers in Morocco, where it aims to get 5% market share by 2025, and Tunisia. (Opel)


  • Reportedly halted planning for the next generation Corsa at Zaragoza and began studying alternative PSA sites that will also make products on the CMP platform. The plant manager wrote to workers to say that competitiveness improvements were a “matter of survival” and that the plant is at the bottom of internal competitiveness measures. The move appeared designed to provoke so far resistant local unions into concessions. (Europa Press)
  • Announced Atlanta as the site of its North American headquarters. The site will open in February. (PSA)
  • Replaced temporary workers in Germany with existing Opel employees from the Gliwice, Poland, factory as part of measures to cut costs. Although affected workers were deeply unimpressed, unions approved the plan. (Handelsblatt)
  • After setting a target of 80% of vehicles would be electrified by 2023, PSA’s CEO said all vehicles electrified by 2025. The company is planning for 80% of its vehicles to have a limited ability to navigate themselves and 10% to have L4/L5 capability by 2030. (Les Echos)
  • CEO Tavares said production costs in UK plants are twice those of France and that the company is considering alliances in South America. Ford was specifically named as a potential partner. (Reuters)
  • PSA executives said that Opel’s expansion into >20 new markets by 2022 would start with Ukraine and Chile. Russia will come some time after 2020. (Les Echos)
  • French unions detailed where some of the PSA job losses will take place: 200 at Poissy; 125 at Sochaux; 100 and Mulhouse; 92 at Vélizy; 34 at Metz; 57 at Trémery; 13 at Herimoncourt; 30 at SevelNord; 13 at Valenciennes and 17 at Douvrin. (Journal Auto). The severance terms are likely to be as follows: early retirees will get 70% of salary for between 2 and 3 years; voluntary redundancy will provide between 4 to 8 months salary, plus assistance in finding a new role. (France 3)
  • Will increase production at its Portuguese plant by adding a third shift in April, bringing forward a plan to implement the additional capacity from the end of 2018. The additional 225 jobs could become permanent. (PSA)
  • Announced targets for 2018 labour redundancies and hiring; PSA wants to shed 1,300 experienced employees and has committed to hire 1,300 new (presumably cheaper) permanent employees. Overall the company will take on 2,000 young people but many will be on temporary contracts. (PSA)
  • Cutting 250 jobs at the Ellesmere Port, UK, plant on top of the 400 redundancies previously announced. Following the changes, the plant will operate on a single shift. (Sky News)
  • Will hire 600 people at its SevelNord plant to staff a fourth production shift (for the next 18 months) and has made the night shift permanent. When the shift is in place, annual capacity will be around 175,000 vehicles. (PSA)
  • Said that 6,000 internal transfers had taken place during 2017, in part enabled by a revised HR system that has 20 functions and 102 job roles. PSA said that the aim of the previously announced 9th January meeting with unions is, in part, to further develop this with a new jobs and skills alignment system (dubbed DAEC). (PSA)
  • Citroën said that the C3 Aircross had an order backlog of 20,000 units and was running with 75% high series trim. The brand hopes that in 2018, French market share will exceed 10%. (Journal Auto)
  • Faurecia signed a memorandum of understanding with Accenture to collaborate on mobility innovation, targeting user experience and services that enhance health and wellness. (Faurecia)


2017 Full Year Earnings

  • Reported 2017 financial results. Revenue of €65 billion included Opel/Vauxhall for the first time, stripping this out gave a 9.9% increase in the automotive division. Automotive operating income was just under €2.8 billion, with Opel/Vauxhall registering a loss of €(179) million for the period of PSA ownership. (PSA)
  • Faurecia reported 2017 financial results. Revenue of €17 billion was up 10.6% versus prior year, operating income of €1.17 billion rose 20.6%. (Faurecia)
  • Sold 3,632,300 vehicles in 2017 -- including 403,900 Opel and Vauxhall units between August and December. (PSA)


  • 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)


  • 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)


  • 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)


  • 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, 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 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)


  • 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…)


  • 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 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…)


  • 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) (..).


  • 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. (..)


  • 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)


  • 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.