PSA believes Peugeot is “ideally suited for the North American market.”
It's been 28 years since Peugeot pulled out of the US market. But after years of rumors, France's PSA Group has confirmed Peugeot is finally returning to North America. PSA previously announced plans to return to the US market back in 2017, but the automaker has been deliberating which of its brands would be best suited to the US market out of Citroen, DS, Opel, and Peugeot.
Carlos Tavares, CEO of PSA Group, confirmed plans for Peugeot to re-enter the US market while presenting the 2018 financial results of the French company and detailing the next steps of its 'Push to Pass' strategic plan.
"Our decision to bring Peugeot back into North America is the culmination of several years of study and research aimed at which of Groupe PSA's brands would best serve the customer needs of this market," Larry Dominique, President and CEO of Groupe PSA North America, commented. "We are taking a pragmatic approach to entering the North American market and are confident that, from the larger 'mobility services' revolution currently taking place, to the more fundamental models of retail, service, financing and logistics – we'll continue to build our plan on careful, scalable solutions."
Peugeot has seen strong growth and profitability in recent years, which PSA believes makes the global brand "ideally suited for the North American market." Bringing Peugeot back to the US market will be a long process, however, as the automaker aims to sell vehicles in the US by 2026. Its US launch will mark the fifth continent where Peugeot is marketed.
"With more than 208 years of history, including two early victories of the Indianapolis 500, Peugeot's international adventure continues with new territories and new challenges," said Jean-Philippe Imparato, Peugeot Brand Chief Executive Officer. Last year, PSA said it was considering one of 15 states or one of four Canadian provinces as possible points of entry for sales. These locations have customers who are willing to buy imports and represent 62 percent of vehicle sales nationwide. Peugeot has also begun homologating vehicles for the US market.
Just this week, Peugeot lited the wraps off the gorgeous all-new 208, which we're now hoping will be sold Stateside. We'll also get to see the new hatchback debut at Geneva next month alongside the stylish 508 Peugeot Sport Engineered concept previewing the automaker's future electric performance range. Judging from these models, the future is looking bright for Peugeot, so its US comeback couldn't come at a better time.