News of March
Jean-Martin Folz, CEO of PSA Peugeot CitroŽn, inaugurated the Porto Real engine plant in Brazil
Paris - The new facility at the Porto Real plant in Rio de Janeiro State consists of a dedicated 4,300-square-meter building. Production began this month of the 1.6i 16-valve engine, the latest generation PSA Peugeot CitroŽn engine that was introduced in Europe in 2001. The engine will gradually become standard equipment on Peugeot 206s and Partners and CitroŽn Berlingos manufactured or assembled at the Group's sites in the Mercosur and Chile.
The facility, which has a production capacity of 50,000 units a year, was built at a total cost of EUR 21.5 million.
In line with objectives, 75% of the engine's content will be locally sourced by the end of 2002.
The facility strengthens the Group's industrial base in the Mercosur, which include the Porto Real plant and the Buenos Aires plant in Argentina. The region is a priority focus for PSA Peugeot CitroŽn's international growth. The Group aims to earn a combined 8% market share for its two marques in 2004, versus 4.5% in 2001.
PSA Peugeot CitroŽn's market share in Brazil was a modest 3.2% in 2001, with 48,600 vehicles sold, but sales are experiencing strong growth (26% in 2000 and 59% in 2001 in a market up by 7%). The overall objective is to sell 70,000 vehicles in 2002, of which 50,000 Peugeots and 20,000 CitroŽns.
PSA Peugeot CitroŽn is Europe's second-ranked and the world's six-largest carmaker, with a 5.5% share of the global market. With sales up by close to 50% in four years, the Group has recorded the strongest growth of any broadline carmaker. Objectives were met or exceeded in 2001, with 3,132,800 vehicles sold, a consolidated operating margin of EUR 2,652 million and an Automotive Division operating margin equivalent to 4.8% of net sales.
The Group is aiming to maintain growth momentum in 2002 by introducing a series of new models, with the objective of selling 3,250,000 vehicles worldwide.
(March 7, 2002)