It's a 10-year plan, the company says.
PSA Group’s next step from its global expansion is launching in the United States. This claim sounds like something we’ve heard at least a couple of times so far, but this time it’s not just a speculation, as the French manufacturer has officially named former TrueCar and Nissan executive Larry Dominique as a Senior Vice President of PSA North America.
PSA’s American affair started back in 1960 when the Peugeot 404 saloon was introduced, followed by the 504. After difficult 30 years in the U.S., the brand left North America in 1991, but is now poised to return as it conquers “the rest of the world step by step”.
Automotive News is reporting the PSA Group will start its American mission by launching car-sharing services. The manufacturer says it is starting its operations through Free2Move, the Group’s mobility brand, and its partner Travelcar, a start-up founded in 2012. Once the network is established, Dominique and his team will start promoting PSA’s brands and create a sales channel.
“This is a market that, as a full-line automaker, you need to be part of,” Dominique told Automotive News. “But this is a 10-year project. It’s not about jumping in and creating market share as quickly as possible.”
So far, it hasn’t been confirmed which of the three PSA brands, Peugeot, Citroen or DS, will be launched first and whether it will be followed by another brand. Dominique is also still to decide whether retailing will occur through a traditional independent dealership network or some other way.
“It’s going to be a significant amount of money to re-enter the market,” he said. “But we haven’t set a number. If we can find more efficient ways to market and sell our vehicles - whether it’s in a traditional partnership with investors or not - those are things that can heavily influence the cost of coming to market.”
Meanwhile, PSA is currently the only automaker in the world with registered interest in buying Proton and Lotus. A potential deal could open many doors for the French company in the South-East Asian market.
Check out the press release section below for more details.
Source: Automotive News