French multinational automotive manufacturer General Motors and Peugeot-Citroën (PSA Group) and motor dealer Urysia Limited Authorised Peugeot Dealers, will begin in June with supplying a yearly volume of over 1 000 Peugeot units in order to meet the expectations of the Kenyan market.
This comes after the two companies signed a contract last month to assemble Peugeot vehicles in Kenya.
The signature ceremony took place at State House, President Uhuru Kenyatta’s residence, in Nairobi, Kenya, in the presence of the French Minister of Economy and Finance Michel Sapin, Urysia CEO Claude Mwende, as well as PSA Group executive VP Jean-Christophe Quémard.
Urysia is the importer and distributor for Peugeot in Kenya since 2010. Production will start with the Peugeot 508, followed by the new Peugeot 3008 sports utility vehicle.
This agreement is part of the strategic profitable growth plan ‘Push to Pass’ and materialises PSA Group’s ambition to develop internationally.
On this occasion, Kenyatta said that Peugeot cars had always been renowned for resilience, durability and reliability. “We are proud to welcome it back home,” he says, referring to the assembly of Peugeot cars from 1974 to 2002 in Kenya.
Quémard added that the investment in Kenya is part of the long-term strategy of PSA Group to increase its sales in Africa and the Middle East, with the aim to sell a million vehicles in 2025. “These local production capabilities will serve the region’s markets and meet the expectations of our customers and the specific features of each country.”
Push to Pass Strategy PSA Group’s Push to Pass strategic plan foresees transformation to profitable growth from 2016 to 2021.
The plan will enable PSA Group to unleash its potential and to step up its sustainable performance to meet two financial objectives, namely 4% automotive recurring operating margin and 10% group revenue growth from 2015 at constant exchange rates, by 2018. PSA Group also targets a 6% automotive recurring operating margin and 15% of group revenue additional growth at constant exchange rates by 2021.
PSA Group’s ambition is to be a customer-connected company with efficient digital processes for a seamless customer journey, says PSA Group chief digital officer Brigitte Cantaloube.
About PSA Group
PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers globally.
It leverages the models from its three brands, namely Peugeot, Citroën and DS Automotives, as well as an array of mobility and smart services form its Free2Move brand, to meet the evolving needs and expectations of automotive users.
The group is the European leader in terms of carbon dioxide emissions, with average emissions of 104.4 g/km in 2015, as well as being an early innovator in the field of autonomous and connected vehicles, with 1.8-million autonomous vehicles globally.