PSA Groupе PSA Group

PSA Groupe (PSA Group) is a company in the automotive industry, in France. Organized in 1976.

Activity indicators

2020: Decrease in turnover to 60.734 billion euros

On March 9, 2021, Stellantis announced the financial results of the PSA Group for 2020.

The Group's turnover in 2020 amounted to 60.734 billion euros, a decrease of 18.7% compared to 2019.

The turnover of the automobile division amounted to 47.613 billion euros - 19.2% less than in 2019.

The decline is mainly due to a decrease in sales and global presence (-23.9%), negative the impact of exchange rates (-1.8%), as well as a reduction in sales to partners (-0.3%). In turn, among factors that positively affected turnover, it should be noted the product line (+ 4.2%) and prices (+ 0.9%), and other factors (+ 1.7%).

The Group's adjusted operating income was € 3,685 billion, down by 41.7%. At the same time adjusted operating income of the automotive division decreased by 33.0% and amounted to 3.377 billion euros. With product lines and reduced costs, the company's profitability amounted to 7.1%, despite a sharp decline in the automotive markets. In the second half of 2020 it was recovery from recession was recorded, and adjusted operating margin automotive division 9.4% - 1.1 percentage points higher than in the second half of 2019.

The Group's adjusted operating margin was 6.1%, down 2.4% from indicator for 2019.

Other operating income and losses amounted to -631 million euros, compared to -1.656 billion euros in 2019 to year.

Net financial expenses of the Group decreased to EUR -317 mln compared to EUR -344 mln per 2019.

Consolidated net income amounted to 2.022 billion euros, having decreased by 1.562 billion euros per year. Share The groups in net income reached 2.173 billion euros, which was 1.028 billion euros lower than in 2019.

Bank PSA Finance reports adjusted operating income of Euro965 mln 5 (minus 4.6% year on year).

• Adjusted operating income relative to sales
• Automotive unit free cash flow - see definition and reconciliation in the appendix.
• Net financial position of the automotive division - see definition and reconciliation in the appendix.
• Adjusted operating income of the Group - see the definition in annex.
• 100% of PSA Finance Bank's results. In the PSA Group financial statements, joint ventures are consolidated on an equity basis.

Faurecia's adjusted operating income was 315 million euros, or 74.3% lower than for 2019.

The free cash flow of the automobile division and the holding amounted to 2.660 billion euros.

Total inventory, including independent dealerships, as at 31 December 2020 493,000 cars - 19% less compared to December 31, 2019.

Net financial position of automobile division and holding as of December 31, 2020 increased to 13.231 billion euros - 2.625 billion euros more than as of December 31, 2019.

History

2021

Citroen China Launch Plan

In April 2021, it was announced that Citroen plans to begin production of a new crossover model in China, which is the first attempt by its parent company Stellantis to enter the world's largest automotive market.

Citroen will produce the flagship C5 X at the Chengdu plant and sell it in Europe and the domestic market.

The automaker follows a "rational and balanced approach" when deciding where to build its cars, Vincent Kobe, head of Citroen, told Bloomberg. "The quality of production in China is one of the best in the world."

End merger with Fiat Chrysler Automobiles

On January 16, 2021, Groupe PSA announced that a merger between Peugeot S.A. ('Groupe PSA') and Fiat Chrysler Automobiles N.V. had been completed. More details here.

2020

Creation of Stellantis together with Fiat Chrysler Automobiles

Fiat Chrysler Automobiles NV ("FCA") and Peugeot SA ("Groupe PSA") on September 29, 2020 announced the composition of the Board of Directors of Stellantis, a company that will be the result of the merger of the two enterprises. The completion of the merger of companies will take place by the end of the first quarter of 2021, subject to the previously agreed closing conditions in the Merger Agreement. More details here.

Repurchase of 10 million own shares

On September 23, 2020, it became known that Groupe PSA will buy back 10 million of its own shares from Dongfeng Motor Group (DFG) and approve an amendment to the Share Repurchase Agreement concluded with DFG.

In accordance with the terms of the Share Repurchase Agreement signed on December 17, 2019 and the Supervisory Board's decision of September 14, 2020, DFG sold 10 million common shares of Peugeot S.A. to Groupe PSA.

These shares are purchased by Groupe PSA on September 23 through an OTC transaction at EUR 16.385 per share, representing a total purchase value of EUR 163 850 000 (excluding costs). The deal will take place on September 25, 2020 in accordance with the Group PSA share repurchase program.

This deal is consistent with the December 18, 2019 announcement of the proposed merger of Peugeot S.A. and Fiat Chrysler Automobiles N.V., which will entail the creation of the 4th largest global automaker STELLANTIS.

Subject to final approval by the Board of Directors, DFG, Groupe PSA and DFG have also agreed to amend the Share Repurchase Agreement, signed on December 17, 2019 providing that an additional 20.7 million shares, to which such agreement applies, will be sold by DFG to one or more third parties in one or more transactions before the end of 2022 in the event, if DFG does not sell these shares to Groupe PSA or one or more third parties by December 31, 2020.

2019

Growth of operating profit by 11.2% to 6,324 million euros

PSA groups on February 26, 2020 announced the results of profitability in 2019.

The professionalism of our team allowed us to achieve good results in 2019 due to a flexible approach, customer orientation and social responsibility. We are ready to use various types of energy, all our employees strive to provide our customers with reliable, safe and affordable mobility. Our business model and drive for success has proven to be effective, and we look forward to opening up opportunities through a merger project with the FCA Group, stated Carlos Tavares, Chairman of the Board of Directors of Groupe PSA

Payment of dividends in the amount of EUR 1.23 per share will be submitted for approval to the next general meeting of shareholders.

The Group's turnover in 2019 amounted to EUR 74,731 million, showing an increase of 1% compared to 2018. The turnover of the automobile division amounted to 58,943 million euros, which is 0.7% more compared to 2018; the positive effect of expanding the range (+ 4.3%) and raising prices (+ 1.2%) compensated for the decrease in sales volumes to partners (-1.7%), the negative impact of changes in exchange rates (-0.5%), a decrease in sales volumes and a reduction in the range in countries (-2.4%), as well as other negative factors (-0.2%).

The Group's operating profit increased by 11.2% to EUR 6,324 million. The operating profit of the automotive division increased by 12.8% and amounted to 5,037 million euros. A high level of profitability of 8.5% was achieved due to a balanced model range and a further reduction in costs, despite the negative impact of changes in exchange rates and an increase in the cost of raw materials.

The Group's operating margin was 8.5%, up 0.8 points from 2018.

The Group's non-current operating costs amounted to EUR 1,656 million against EUR 1,289 million in 2018.

The Group's financial expenses amounted to EUR 344 million against EUR 446 million in 2018.

The Group's consolidated profit amounted to EUR 3,584 million, an increase of EUR 289 million compared to 2018. Net profit on the Group's share amounted to EUR 3,201 million, showing an increase of EUR 374 million compared to 2018.

PSA Finance Bank's operating profit amounted to EUR 1,012 million, showing an increase of 7.8%.

Faurecia's operating profit was EUR 1,227 million, down 2.9%.

Free Cash Flow in industrial production and commercial activities amounted to EUR 2,745 million, including EUR 3,265 million for the automotive division.

The total warehouse volume as of December 31, 2019, including a network of independent enterprises and importers, amounted to 606,000 cars, showing a decrease of 74,000 cars compared to December 31, 2018.

The net financial position of industrial production and commercial operations as of December 31, 2019 amounted to 7,914 million euros after the conversion under IFRS 16 and the acquisition of the Clarion brand by Faurecia, as well as taking into account debts related to repurchase obligations of DFG shares.

Payment of dividends in the amount of EUR 1.23 per share is submitted for approval to the next general meeting of shareholders. The date of allocation of funds for the payment of dividends is May 21, 2020, the beginning of payments is May 25, 2020.

In 2020, the Group expects a decline in the automotive market by 3% in Europe, by 2% in Russia and a stabilization of the situation in the Latin American markets.

PSA Group sets goals for the period 2019-2021: achieving an average operating margin of more than 4.5% for the automotive division.

Growth of operating profit by 10.6% to 3,338 million euros in the 1st half of the year

PSA Group's turnover in the first half of 2019 amounted to 38,340 million euros, showing a decrease of 0.7% compared to the first half of 2018. The turnover of the automobile division amounted to 30,378 million euros, which is 1.1% less compared to the first half of 2018. The positive effect of the expansion of the model range (+ 2.9%) and price increases (+ 1.3%) partially compensated for the decrease in sales volumes to partners (-2.2%), the negative impact of changes in currency exchange rates (-0.8%), a decrease in sales volumes and a decrease in the model range in countries (-1.4%) and other negative factors (-0.9%), the PSA Group reported on July 24, 2019.

The group's operating profit increased by 10.6% and amounted to 3,338 million euros. The operating profit of the automotive division increased by 12.6% compared to the first half of 2018 and amounted to 2,657 million euros. Such a record level of profitability for the group, equal to 8.7%, was achieved due to a balanced model range and further cost reductions, despite the negative impact of changes in exchange rates, the PSA noted.

The group's operating margin was 8.7%, an increase of 0.9 points compared to the first half of 2018. The group's operating costs, not of a current nature, amounted to 847 million euros against 750 million euros in the first half of 2018.

The group's financial expenses amounted to 166 million euros against 218 million euros in the first half of 2018.

The group's consolidated profit amounted to 2,048 million euros, an increase of 335 million euros compared to the first half of 2018. Net profit on the share of the group amounted to 1,832 million euros, showing an increase of 351 million euros compared to the first half of 2018.

PSA Finance Bank's operating profit amounted to 513 million euros, showing an increase of 0.6%. Faurecia's operating profit amounted to 634 million euros, down 1.2%.

The free cash flow (Free Cash Flow) in the field of industrial production and business activity made 1,599 million euros, including 2,287 million euros for automobile division.

The total warehouse volume as of June 30, 2019, including a network of independent enterprises and importers, amounted to 659,000 cars, which is equal to the volume as of June 30, 2018.

The net financial position of industrial production and commercial operations as of June 30, 2019 amounted to 7,906 million euros after the conversion under IFRS 16 and the acquisition of the Clarion brand by Faurecia.

In 2019, the Group expects a decrease in the automotive market by 1% in Europe, by 4% in Latin America, by 7% in China, a slight increase in Russia + 3%. At the same time, between 2019 and 2021, the PSA group expects to achieve an average operating margin of over 4.5% for the automotive division.

1.9 million cars sold over 6 months

During the first half of 2019, the PSA group strengthened its position, taking a share of 17.4%, despite a drop in the market (-2.4%), thereby showing growth in all major markets, in particular in Italy (+ 1.1%), France (+ 0.7%), the UK (+ 0.2%), Germany (+ 0.1%) and Spain (+ 0.1%). This was reported in the PSA group on July 15, 2019.

Such statistics are due to the excellent results of Citroon, which set a sales record over the past 8 years with the most significant growth among 12 brands. As a result, Mark increased its market share by 0.3% in the European market, in particular due to the success of its line of crossovers (C5 Aircross and C3 Aircross).

Opel/Vauxhall has continued its development since the fall of 2018, gradually increasing market share: France (+ 0.2%), the UK (+ 0.2%), Italy (+ 0.7%).

Peugeot's market share in Europe remains stable. In addition to successful sales of 3008/5008 crossovers, the Peugeot 508 and the start of sales of the 508 SW t station wagon contributed: the liftback sedan 508 remains the most popular car in its segment in France since launch.

DS Automobiles confirms steady brand growth (+ 1.7% compared to the first half of 2018 and + 16% in the second quarter compared to the second quarter of 2018). DS 7 CROSSBACK became the leader among premium crossovers in France in the first half of the year, and DS 3 CROSSBACK, which was launched on the market in May, took first place in the number of premium crossover registrations in June in France.

PSA also maintains leadership in the light commercial vehicle (LCV) segment with a market share of 24.7%.

PSA Group's share grew in the main markets: Morocco (+ 4.7 points), Egypt (+ 3.5 points), Algeria (+ 2.7 points) and Turkey (+ 0.5 points). The dynamics of sales were influenced by the curtailment of production in Iran and the decline in the Turkish market (-44.8%).

In the falling Chinese market, sales decreased by 62.1%. The DS brand has retained its market share. The PSA Group is working with its partners to develop plans to address current challenges and reduce the breakeven point of joint ventures.

The expansion of the electrification presence will be realized thanks to the launch of the Peugeot 508L PHEV rechargeable hybrid, as well as the electric versions of Peugeot 2008 and DS3 CROSSBACK by 2020. In addition, the export of the Peugeot 3008 and Peugeot 5008 models from Malaysia, the NAM plant, begins.

PSA Group sales in Latin America declined by 29.3% in the face of a strong decline in the Argentine market (-50.3%). However, the group stabilized market share in Brazil due to the success of the C4 Cactus crossover and the introduction of light commercial vehicles to the market. The Group maintained its position in Chile and improved it in Mexico in the face of shrinking markets. Opel shows steady sales growth in this region.

Crossovers and updated models can set a positive trend: Citroon C5 Aircross and Peugeot 2008, as well as Citroon C4, Peugeot Rifter. DS 3 CROSSBACK will also be on sale soon. It is planned to strengthen the presence in LCV due to the recent launch of sales of light commercial vehicles under the brands Peugeot, Citroon and Opel.

PSA Group continues to show steady sales growth in Japan (+ 16%). In India, the group announced the launch of the Citroon brand in April and began production of transmissions (Hosur plant) with its partner AVTEC Ltd (CK Birla Group Co.).

In the context of the downtrend in the Russian market (-2.4%), the PSA group market share decreased (-0.2%). In Ukraine, the group launches DS Automobiles with the first DS Store dealership, which opens in July. In Russia, the PSA group is preparing to enter the Opel brand. Sales of the first models will begin in a few months.

PSA group sales by region (according to the results of the first 6 months of 2019)

Signing of a special investment contract with the Government of the Russian Federation and the Ministry of Industry and Trade of the Russian Federation

PSA Group on July 3, 2019 announced the signing of a special investment contract with the Government of the Russian Federation and the Ministry of Industry and Trade.

Within the framework of SPIC, the PSA Group plans to expand the range of cars produced in Kaluga, including through Opel models, invest in a new platform, launch the production of all-wheel drive versions of Peugeot Expert, Peugeot Traveller, Citron Jumpy and Citron SpaceTourer. In addition, it is supposed to localize the production of engines, which includes casting, forging and machining key elements. In addition, it is planned to introduce technological operations related to the localization of the production of transmissions. Engines and transmissions localized in Russia will be installed on models produced by the PSA Group in Kaluga.

As of the beginning of July 2019, the plant in Kaluga performs all basic operations: welding, painting, assembly, Russian stamping is used in the production of cars.

The Russian market was and remains key for the PSA Group. The application for SPIC, which we submitted this spring, confirms this. We are already producing Peugeot and Citroon passenger and commercial vehicles at the PSMA Rus plant in Kaluga and are ready to expand the lineup, continue to invest, increase localization, establish exports, produce more and offer modern and high-quality products to Russian consumers. We are very pleased that the Government and the Ministry of Industry and Trade of the Russian Federation support our initiatives by signing a special investment contract, "said Nicolas Febwe, General Director of PSMA Rus LLC.

The signed SPIKs will help attract over 100 billion rubles to the Russian economy. Private investments of the world's leading automakers and localize the production of key nodes: engines, gearboxes and car control systems. Manufacturers that have concluded SPIK undertake to deepen the localization of already well-established cars, as well as expand their lineup. The implementation of the projects involves the delivery of products not only to domestic, but also to export markets, as well as R & D in the territory of the Russian Federation. As a result of the implementation of the projects, over 1,400 high-tech jobs will be created, and over 523 billion rubles will be received in budgets of various levels, "said Denis Manturov.

Application for special investment contract

On April 22, 2019, the PSA group filed an application for the conclusion of a special investment contract (SPIC) with the Ministry of Industry and Trade of the Russian Federation, the purpose of which is to support the development of PSA brands in Russia and the modernization of production.

Local production is part of the long-term development strategy in Russia and a priority for the PSA group. We are ready to invest in the Russian economy thanks to the development of new projects and the introduction of new technologies, the expansion of production and export. The potential of our plant in Kaluga and high-quality production will contribute to the successful development of the automotive industry in Russia, "said Yanik Bezar, CEO of PSA Group, Eurasia region.

Investments in the project and other details of the contract are not disclosed before the signing of the SPIC.

2018

Growth of the Group's turnover by 18.9% to 74 billion euros

On February 26, 2019, the PSA group published its financial results for 2018. The group's turnover in 2018 amounted to 74,027 million euros, showing an increase in 18.9% compared to 2017. In terms of the constant exchange rate (2015) and volume, growth amounted to 23.3%. The turnover of the PCD automobile division amounted to 43,027 million euros, which is 5.6% more compared to 2017. Such growth is due, in particular, to the expansion of the model range (+ 4.0%), an increase in sales and entry into the markets of new countries (+ 1.2%), an increase in sales to partners (+ 1.7%) and an increase in prices (+ 1.3%), which made it possible to compensate for the negative impact of changes in exchange rates (-2.7%). The turnover of the OV automobile division in 2018 amounted to 18,306 million euros compared to 7,238 million euros in the last 5 months of 2017 year.

The group's operating profit increased by 43% and amounted to 5,689 million euros. The operating profit of the PCD automotive division increased in 2018 by 21.9% compared to 2017 and amounted to 3,617 million euros, which is a record level of profitability of 8.4%, despite the increase in the cost of raw materials and the negative impact of exchange rate dynamics, the company emphasized. This result is achieved, in particular, due to the successful updating of the model range and reduced costs. OV's operating profit in 2018 amounted to 859 million euros against losses of 179 million euros for the last 5 months of 2017.

The Group's operating margin reached 7.7%, up 1.3 points from 2017.

The Group's operating costs, which were not current, amounted to 1,289 million euros against 904 million euros in 2017. The Group's financial expenses amount to EUR 446 million against EUR 238 million in 2017.

The Group's consolidated profit amounted to EUR 3,295 million, an increase of EUR 948 million (or 40.4%) compared to 2017. The net result for the Group's share amounted to EUR 2,827 million against EUR 1,924 million in 2017.

PSA Finance Bank's operating profit amounted to 939 million euros, which is 48.6% more compared to the previous period.

Faurecia's operating profit amounted to 1,263 million euros, showing an increase of 9.3%.

The free cash flow (Free Cash Flow) in the field of industrial production and business activity made 3,501 million euros, including 1,357 million euros for OV.

As of December 31, 2018, the total PCD warehouse amounted to 485,000 cars (including a network of independent enterprises and importers), the warehouse increased by 40,000 cars compared to the end of 2017. As of December 31, 2018, the total OV warehouse (including a network of independent enterprises) amounted to 195,000 cars, the warehouse decreased by 32,000 cars compared to the end of 2017.

Net profit of industrial production and commercial operations as of December 31, 2018 is 9,098 million euros, compared to 6,194 million euros as of December 31, 2017.

In 2019, the Group expects a stabilization of the automotive market in Europe, a decrease of 1% in Latin America, 3% in China and an increase of 5% in Russia.

The initial goals of the Push to Pass plan in 2016-2018, according to the group, are exceeded, PSA (including Opel Vauxhall) sets new goals for the period 2019-2021 years: the average current operating margin is more than 4.5% for the automotive division in the period 2019-2021 years.

PSA Group also announced the transition to an updated dividend policy in 2019-2021, based on "payout ratio" with an increase of up to 28% starting from fiscal year 2019.

Sales growth by 6.8% to 3.88 million cars

PSA Group on January 15, 2019 summed up its activities in 2018. Group sales grew by 6.8% year over year to 3,878,000 vehicles. According to company experts, the growth is due to the following factors: the update of the PSA group model range (over 2 years in the regions more than 70 models were released for sale); implementation of Core Model Strategy, aimed at customers and development of dealer network.

The company also set a record for sales of light commercial vehicles (LCV): sales grew by 18.3% to 564,144 units. In 2016, the Group updated the range of compact vans, and in 2018 - compact commercial vehicles (B-LCV). Thus, the group strengthened its position in Europe in all segments, gaining more than a quarter of LCV buyers. At the same time, the development of a range of commercial vehicles created the foundation for growth in sales abroad; an example is the successful launch of Peugeot Expert and Citron Jumpy in Eurasia and Latin America.

According to the group, PSA crossovers (SUV) were particularly successful, primarily Peugeot 2008, 3008, 5008 (the leader in Europe), Citroon C3 Aircross, C5 Aircross, DS 7 Crossback, Opel/Vauxhall X, Xmrossland and all key products will continue to launch. In addition, in 2019, the first rechargeable hybrid cars (PHEV) and electric vehicles (EV) built on multi-energy platforms will be available to customers.

In a difficult political and economic situation, we flourished thanks to the introduction of a strategy for the development of the Core Model Strategy range. The attractiveness of offers for B2B or B2C customers supports our pricing policy for all brands; at the same time, we are implementing our strategy for the development of electrified cars, "said Carlos Tavares, chairman of the PSA group.

Europe

All PSA cars have been certified according to the WLTP standard, which makes them even more competitive. By the end of 2018, the group's market share grew by 3.8 pp and reached 17.1% - thanks to the Peugeot and Citroon brands, which in 2018 showed maximum sales growth of + 5% for both brands among the 10 strongest brands in Europe.

DS Automobiles made a breakthrough, increasing sales by 6.7%, in particular, due to the entry of DS7 into the premium model market. Opel/Vauxhall continues to advance into the market due to the success of the crossover family and the optimization of sales channels.

According to the group, the commercial indicators of PSA exceed the average market and are improving in all major markets: France (+ 2.6 pp.), Spain (+ 4.2 pp.), Italy (+ 3.9 pp.), Great Britain (+ 4.8 pp.) and Germany (+ 3.7 pp.).

Middle East - Africa

Despite significant difficulties, mainly in the market in Iran due to sanctions, as well as a decline in the market in Turkey, the PSA group's share increased in Morocco (+ 1.2 pp.), Tunisia (+ 1 pp.) and Egypt (+ 3.1 pp.); this region is leading among the overseas departments of France.

The production activities of the group in the region are under preparation; work will begin in 2019 with the launch of production at the Kenitra plant in Morocco.

China and Southeast Asia

The passenger car market in China decreased (-0.8%), sales decreased by 32.1%. Together with partners, the team develops an action plan to solve current problems. In addition, PSA implements its electrification strategy in collaboration with the Fukang brand; this will be followed by the release of electrified models, starting in 2019. In addition, China is implementing Core Model Strategy to offer products created for Chinese customers with Peugeot 3008 and 5008 models.

Sales in the ASEAN region (Association of South-East Asian Nations) doubled compared to 2017 and amounted to 9,200 cars. It is assumed that the joint venture with Naza Corporation Holdings (Malaysia) will reach full production capacity in 2019.

Latin America

There is a drop in sales in this region. This is largely due to the decline in the Argentine market (-45% in the second half of the year) due to the depreciation of the national currency, as well as to complications in the Brazilian market. At the same time, there is a good dynamics of sales in the Pan-American Zone (54,800 units, + 12.7%) - mainly due to Chile, Mexico, Colombia, Peru, Uruguay and Ecuador.

According to PSA forecasts, the launch of the C4 Cactus (SUV, which is produced in this region) will help strengthen sales. Local production of a number of LCV models also continues (launch of Jumpy MiniBus, Berlingo, Boxer and Jumper in Brazil; Jumpy and Expert Crewcab in Argentina and the electric version of Partner in Chile and Uruguay).

India and the Pacific

Sales are growing mainly due to the commercial success of the group in Japan (+ 9.6%). The implementation of the production project in India, developed jointly with the CK Birla Group, is in full swing.

Eurasia

In this region, sales are stable, growth is noted in Ukraine (+ 7%). This growth is due to the good sales dynamics of Peugeot 3008, C4 Sedan and LCV, production of which began in Kaluga in March 2018 (Peugeot Expert and Citron Jumpy), PSA noted.

Consolidated sales by region 2017/2018

2017: Creating a cloud platform with Huawei

In November 2017, the car concern PSA Group, which produces cars under the brands Peugeot, Citroen and Opel, spoke about the development of its software business. The company promotes a strategy that it has introduced in order to cope with the rapidly changing business landscape, and also emphasized the rapid growth in the popularity of car sharing, online car trading and a sharp jump in the field of digital services. More details here.

2014

In April 2014, Carlos Tavares, former head of Renault Nissan partner company, was appointed head of the PSA Peugeot Citroen alliance. He immediately announced his intention to reduce the number of Peugeot and Citroen models in order to get rid of duplicate cars.

Another direction of Tavares's strategy involves turning the DS premium line into a separate brand - now luxury versions of the French brand are sold in Russia under this index. For this, a separate president of DS was first appointed - he became Yves Bonefon, who since 2012 has been positioning the company's brands. In China, the Citroen and DS brands are already separated, they have different partners and factories, and DS has more and more models and not all of them are available in other markets^[1].

1974-1976: Peugeot absorbs Citroon and creates PSA Group

In 1974, Peugeot SA acquired a 38.2% stake in Citroon. In 1976, it brought the share to 89.95%. After that, the PSA Group was organized, later it was renamed PSA Peugeot Citroon, then Groupe PSA.

1960

1960 Citroen

1810: Creation of Peugeot Frères Aînés

On September 26, 1810, PEUGEOT Frères Aînés was officially registered by way of a cash contribution, a record of which was entered in the register, which is still stored in the archives of Ter Blanche (Du department).

Notes