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PSA Peugeot Citroën

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PSA Peugeot Citroën (Peugeot S.A.)
Type Société Anonyme
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)
Industry Vehicle manufacture
Products Cars, motorcycles, trucks
Revenue (turnover) 56.06 billion (2010)[1]
Operating income €1.736 billion (2010)[1]
Profit €1.134 billion (2010)[1]
Total assets €68.49 billion (end 2010)[1]
Total equity €14.30 billion (end 2010)[1]
Employees 186,000 (2009)[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 (previously Peugeot Société Anonyme) 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 six in the world.[3]

HistoryEdit

In December 1974 Peugeot S.A. acquired a 38.2% share of Citroën. In May 1976 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 to be changed to 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.[4] During this period, PSA lost its traditional competitive footing in the executive car market.

The companyEdit

World locations of PSA Peugeot Citroën factories

World locations of PSA factories

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).

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.[5] Streiff was replaced by Corus Group chief executive Philippe Varin.[5]

European Car of the YearEdit

Peugeot S.A., Citroën and PSA have produced a number of European Car of the Year winners.

SubsidiariesEdit

CollaborationsEdit

PSA held a collaboration agreement with Fiat known as Sevel (Société Européenne de Véhicules Légers SA and Società Europea Veicoli Leggeri-Sevel S.p.A., owned 50% by Fiat, 25% by Automobiles Peugeot and 25% by Automobiles Citroën). 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.

There was a more recent agreement with Toyota Motor Corporation for the development and manufacturing of a series of city cars in a new factory in the Czech Republic. The resulting company is called TPCA (Toyota Peugeot Citroën Automobile) and it currently manufactures the Citroën C1, Peugeot 107 and Toyota Aygo.

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.

In 2005, PSA Peugeot Citroën formed an alliance with Mitsubishi Motors. Under the deal, PSA Peugeot Citroën would import the Citroën C-Crosser and Peugeot 4007 for sale in Europe. Those two models were based on the Mitsubishi Outlander, and would be assembled at Mitsubishi's plant in Okazaki, Japan. Engine choices would include PSA Peugeot Citroën's diesel engines and Mitsubishi's petrol engines.

PSA, in a joint venture partnership with Ford Motor Company since 1998,[6] 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.

Mitsubishi Motors and PSA Peugeot Citroen are going to collaborate in technology for electric vehicles as the global race to build green cars heats up.[7]

Other interestsEdit

PSA owns about 71% of automotive supplier Faurecia, a company created by a 1997 merger between Bertrand Faure and PSA-owned ECIA. PSA also owns the logistics company Gefco and in the United Kingdom since 1981 operates the aftermarket parts company Motaquip.

Electric vehiclesEdit

PSA has announced plans to sell an electric car in Europe starting 2010. PSA signed an agreement with Mitsubishi to develop an electric car, the Citroën C-ZERO, for the European market based on i MiEV four-door car, which has been available in Japan since summer 2009.[8]

Head officeEdit

PSA HQ

Head office in Paris, 75 avenue de la Grande Armée, Paris 16th arr.

The head office of PSA Peugeot Citroën is located in the 16th arrondissement of Paris.[9][10] 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.[10]

See alsoEdit

ReferencesEdit

Smallwikipedialogo This page uses some content from Wikipedia. The original article was at PSA Peugeot Citroën. The list of authors can be seen in the page history. As with Tractor & Construction Plant Wiki, the text of Wikipedia is available under the Creative Commons by Attribution License and/or GNU Free Documentation License. Please check page history for when the original article was copied to Wikia

  1. 1.0 1.1 1.2 1.3 1.4 "Annual Results 2010" (PDF). PSA Peugeot Citroën. Retrieved on 9 February 2011.
  2. "The Group in 2010" (PDF). PSA Peugeot Citroën. Retrieved on 2010-03-21.
  3. "WORLD RANKING OF MANUFACTURERS 2009" (PDF). oica.net. Retrieved on 2010-09-05.
  4. "Development of the Simca 180 cars". Rootes-Chrysler.co.uk. Retrieved on 2006-06-11.
  5. 5.0 5.1 "French carmaker Peugeot fires CEO to weather crisis" (30 March 2009). Retrieved on 1 October 2010. 
  6. "Ford And PSA Peugeot Citroen Announce Plans For Expansion Of Diesel Engine Production". Carpages.co.uk. Retrieved on 2010-09-30.
  7. Jun 17, 2008 (2008-06-17). "AFP: Mitsubishi, Peugeot may team up in electric cars: statement". MyWire. Retrieved on 2010-09-30.
  8. Lawrence J. Speer (2009). "PSA to launch electric cars next year". autonews.com. Retrieved on 2010-09-30.
  9. "Contact." PSA Peugeot Citroën. Retrieved on 7 July 2010.
  10. 10.0 10.1 "Axa allie patrimoine et modernité." Le Journal du Net. Retrieved on 7 July 2010.

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