French auto group, PSA Peugeot Citroen, has announced its five-year business plan dubbed ‘Push to Pass’, outlining a range of product investments that will see one new vehicle per year per brand released onto the market.
Headlining the plan is a new identity for the company, which will drop the PSA Peugeot Citroen moniker and move to Groupe PSA to better encompass the automaker’s three brands: Citroen, Peugeot, and DS Automobiles.
The name change also signals a change in strategy which will see the company add a range of business activities based around mobility services, including vehicle leasing, fleet management, and used vehicles.
The biggest news however is confirmation that Groupe PSA will roll out 34 new vehicles over the next five years, including 26 new passenger cars, and eight commercial vehicles including a one-tonne pickup.
While full details of the pickup program are yet to be released, early speculation points to a joint venture with Toyota, using the Hilux as the basis for a Groupe PSA’s ute offering, similar to the existing arrangement between the French and Japanese companies for their mid-sized vans.
It’s unclear if the ute will arrive as a Peugeot, Citroen, or both, but we’ve taken a stab at how it might look wearing Peugeot’s family face (above and top of page).
There’s also seven plug-in hybrid vehicles on the way, and four electric vehicles slated for release amongst those 34 new vehicles.
Groupe PSA will also begin rolling out a suite of connected and autonomous vehicles.
“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,” Chairman of the Managing Board, Carlos Tavares, said.
“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.”
Behind the scenes, the company promises tighter production and fixed-cost spending, and more frugal use of R&D funds.
Groupe PSA’s target for the 2016-2018 period is a four percent recurring operating margin, rising to six percent by 2021, with a 10 percent group revenue growth by 2018 compared to 2015, achieving a lofty 15 percent by 2021.