The scheme is designed to see the French automotive group deliver on three targets - €2 billion in total operating free cashflow from 2016 to 2018, recurring positive group cashflow by 2016 at the latest and a two per cent operating margin in the automotive division by 2018 (growing to five per cent in the medium term until 2023) - through four key objectives.
Among these are: developing DS as a fully-fledged premium brand of its own; getting all three of DS, Peugeot and Citroen global recognition as brands; repositioning each and streamlining their model offerings to ensure they are complementary, while at the same time improving their price positioning; and a focused, targeted global product plan more aligned with market demand, including expansion in places like China, Russia and South America.
PSA claims the recovery is already well underway, but more focus on being a 'profit-driven culture with a global approach' will help the company back into the black quicker.
Anything else?
PSA managing board chairman Tavares said: "With this 'Back in the Race' plan, I am committed to accelerating the group's recovery by channelling all of our teams' creative potential so that we can quickly get back on the road to profit."
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