PSA Peugeot Citroen is France's biggest carmaker, and the #2 across Europe. However, PSA's traditional focus on its home market, as well as recurrent financial problems since the 1980s have caused it to be overshadowed by domestic rival Renault. PSA has attempted to kickstart international expansion through aggressive moves into Asia, Latin America and the Middle East, but sales have remained doggedly flat for several years, hampered by a lack of new launches. A new management team was installed at the end of 2006 to break the group out of its rut, but the downturn in the economy did not help recovery, and the group announced an unexpected loss for 2008, resulting in another change of leadership. There was a modest improvement in performance for 2010, also the 200th anniversary of the Peugeot brand, but losses again the year after. That prompted the creation of a potentially significant sourcing alliance with GM, also struggling in Europe. However that project fell flat and was partially unwound only a year later at the American company's instigation. Instead, PSA's Chinese partner DongFeng Motors and the French state agreed in 2014 to provide much-needed cash to keep the business afloat.
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Peugeot Citroen worldwide
Adbrands Weekly Update 7th April 2016: Keen to take advantage of the booming American car market, PSA Peugeot Citroen is planning a return to the US for the first time in 25 years. The French manufacturer pulled out of the US in 1992 citing fierce competition from Japanese manufacturers. CEO Carlos Tavares told investors the company would dip its toe back into the US in 2017 with a launch of a car-sharing service, similar to the one it runs in France in partnership with Bollore Group. If that works well it would hope to relaunch the Peugeot and or Citroen brands in the US in around 2020. Separately this week, the group officially changed its name from PSA Peugeot Citroen to PSA Groupe.
Adbrands Weekly Update 25th Feb 2016: French auto group PSA Peugeot Citroen reported its first net profit for five years as a result of a rigorous programme of cost-cutting and pricing increases introduced by CEO Carlos Tavares since 2014. Revenues were up 6% to E54.7bn, while attributable net income hot E899m, compared to a E706m loss the year before. Operating income from recurring business more than tripled.
Adbrands Weekly Update 20th Nov 2014: Publicis Groupe scored a point off French rival Havas by securing a position on the PSA Peugeot Citroen roster. Havas traditionally serves PSA while Publicis is aligned with Renault. This week though, Publicis was awarded global creative for PSA's relaunched DS brand, the former Citroen model now being carved out as a brand in its own right. To avoid a conflict with Renault, the account will be handled by La Maison, Publicis's unconventional partnership with Conde Nast magazines and Google, with creative overseen by recently acquired US-based creative boutique aR New York.
Adbrands Weekly Update 31st Jul 2014: Struggling French automobile group PSA Peugeot Citroen reported its first quarterly profits for three years, as the turnaround plan led by new CEO Carlos Tavares appeared to gather impetus. Operating income jumped to E477m, excluding exceptional items, compared to a E100m loss a year ago. A key factor was a sharp rise in sales to China, prompted by the recent alliance with local manufacturer DongFeng Motors, now one of PSA's three controlling shareholders. PSA's sales to Asia jumped 27% during the quarter, more than twice local market growth of 13%.
Adbrands Weekly Update 5th Jun 2014: Ads Of The Week "Questions". We're not quite sure how cash-strapped PSA Peugeot Citroen were able to justify the huge budget they signed off for this lavish Citroen spot from Les Gaulois. Frankly, the underlying concept doesn't make any sense - why on earth are these various historical characters asking each other questions about a machine that hasn't been invented yet? "Why are car engines so powerful? Why are car doors so badly protected? Why are car windows so badly insulated?" Huh? How about, what's a car? Oh well, who cares when the production values are so epic. Just sit back and enjoy the ride. "The right questions have to be asked at the right time." How very true.
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