This is a vehicle manufacturer that some observers thought was running out of road a decade ago. It has faced numerous challenges, embraced new thinking, battled to improve efficiency and is now a strong automotive force.
Groupe PSA is now a significant consolidator of the automotive industry. Its acquisition of Opel Vauxhall in 2017 brought synergies and product development opportunities that all its brands are benefitting from. The AM Awards judges said Groupe PSA’s ownership and leadership has freed Opel Vauxhall from the shackles of General Motors, empowered the business to refocus alongside PSA’s historic brands, develop good practices and, crucially, enabled it to turn a profit.
Like all in this industry, it is still not perfect. Our winner’s desire to establish DS as a truly premium brand will need plenty of years to come to fruition. But its Peugeot and Citroën brands already have desirable, efficient, good value products and the group’s focus is on profitable, sustainable growth.
In the first half of 2019 it made €3.34 billion (£2.86bn) operating profit thanks to its strong product mix and reductions in costs. Profitability reached record levels, at 8.7% operating margin.
At the time, boss Carlos Tavares stated: “We are ready for electrification and to embrace the next technological challenges.”
In its enlarged form, Groupe PSA is well placed to keep pace with changing consumer and regulatory demands.
Now it is planning a merger with Fiat Chrysler Automobiles, it hopes to leverage yet more efficiencies, accelerate development of new technologies and powertrains, and build a business with the fourth largest sales volume in the world and reputed brands in all major markets.
The group is cementing its position as a leading carmaker and a mobility provider, one which is adapting to ensure it will remain relevant and reliable for consumers in the years ahead.
Finalists: Groupe PSA, Mazda, Tesla, Volkswagen, Volvo
Award sponsored by: Carwow