French car maker PSA Peugeot Citroen has announced a new “Push to Pass” business plan that will see it launch “one new car, per region, per brand and per year” between now and 2021.
The plan, built on 34 models across the Peugeot, Citroen and DS brands, will include 26 passenger cars and eight light commercial vehicles - the latter group including a new one-tonne pick-up ute, first reported in the European press.
The company has yet to confirm any details for its new ute, but reports suggest it may be build on its existing relationship with Toyota by launching a lion- and/or chevron-badged version of the HiLux.
Seven plug-in hybrid and four pure-electric models will also appear by 2021, and the company will expand its focus on connected vehicle and driverless vehicle technologies.
In announcing the new plan today, PSA - the second-largest of France’s two major automotive companies behind Renault - confirmed a target of a 4 per cent recurring operating margin for 2016 to 2018, growing to 6 per cent by 2021. The company also aims to deliver a group revenue growth of 10 per cent by 2018, rising to 15 per cent by 2021.
Hitting those targets won’t depend entirely on new-car sales, however, with the company highlighting plans to expand its customer base in areas that include leasing, used car sales, mobility services and fleet management, along with venture capital investments.
The company will also need to break its dependence on the European market, which made up 62 per cent of its 2.97 million global deliveries last year. By comparison, the Renault Nissan Alliance moved 8.5 million cars, and Europe's largest car maker Volkswagen hit 9.9 million.
"Based on our financial reconstruction, we will launch a global product and technology offensive. Now more agile, we are ready to shift paradigms by anticipating changes in car usage patterns,” PSA Peugeot Citroen’s chairman of the managing board, Carlos Tavares, said in a statement today.
“Our digital transformation will make the PSA Group a company connected to its customers. With “Push to Pass”, we will ensure PSA profitable organic growth.”
“Push to Pass” is a motorsport term, used to describe a function in racing cars that allows for a boost in the vehicle’s outputs for short bursts. Carlos Tavares is a known motorsports fan, with the company’s previous roadmap titled “Back in the Race”.