Peugeot to Halve Lineup in Push for 2% Margins by 2018
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PSA Peugeot Citroen, Europe’s second-largest carmaker, will cut its lineup by almost half and turn the Citroen unit’s DS badge into a separate premium brand in a bid to return the automotive division to profitability.
Operating profit from carmaking will amount to 2 percent of sales by 2018, with the figure rising to 5 percent in the 2019-2023 period, Chief Executive Officer Carlos Tavares said today in his strategic review of the Paris-based company.