Citroën pulls out of SA (Update August 2019: They're Back!)

Foxhound5366

Executive Member
Joined
Oct 23, 2014
Messages
6,796
No man...don't say that. Pug has a very very long heritage in ZA.
Heritage don't pay the bills of all those dealerships. Visiting a few of the dealerships though, you can see they've really shifted their focus onto the workshops and moving used cars.
 

FiestaST

Honorary Master
Joined
Aug 9, 2009
Messages
56,005
Heritage don't pay the bills of all those dealerships. Visiting a few of the dealerships though, you can see they've really shifted their focus onto the workshops and moving used cars.
I know know but I'm a person that values heritage & respects that...sigh...

They won't "pull out"...They mustn't!
 

FiestaST

Honorary Master
Joined
Aug 9, 2009
Messages
56,005
Peugeot Citroën SA: Japanese firm buys 51% stake

VT Holdings has acquired a 51% stake in Peugeot Citroën SA.

Peugeot Citroën South Africa has announced that Japan-based company VT Holdings has purchased a majority stake in its struggling local operations, meaning that it is no longer a wholly owned subsidiary of the PSA Group.

VT Holdings, which is listed on the Tokyo Stock exchange, has been in the automobile industry for some 34 years, distributing vehicles in five countries.

The holding company officially acquired a 51% stake on June 1, with Peugeot Citroën South Africa saying the joint venture “allows the Peugeot brand to strengthen its position in South Africa through an upgrade of the entire value chain”.

In addition, Francisco Gaie has been appointed as the new managing director of Peugeot Citroën SA, replacing Francis Harnie, who has returned to Europe after six years at the helm.

“It is time to move forward in creating a new and exciting vision, one that produces even greater opportunities to our employees, dealers and most importantly to our customers,” said Gaie.

“We have new developments planned around products, aftersales and parts which we are confident will result in greater efficiencies, increase our market share and strengthen our position in the South African market place,” he added.

So, what is behind the decision? Well, Peugeot Citroën SA, which ceased sales of Citroën products locally in December 2016, told us that it needed to make its organisation “more efficient”.

“In South Africa, PSA Groupe made a deliberate choice, in order to grasp a business opportunity to optimise its development with VT Holdings as a partner.

“We felt it was important to adapt our organisation to the specific requirements of local markets and VT Holdings have an extensive experience in distribution which is more agile, better able to contribute, adapt and ensure the profitability of our investment,” the company said.

What this will mean for Opel, which has been bought by the PSA Group, remains to be seen.

http://www.carmag.co.za/news_post/peugeot-citroen-sa-vt-holdings-buys-51-stake/
 
Top