So, which companies are for sale?
After a nearly three-decade-long hiatus, French automaker Peugeot will finally return to the US market in 2026. This is wonderful news, as we will finally get to see Peugeot's beautiful looking crossovers (and hopefully sedans and hatchbacks) on US roads, though 2026 seems like a lifetime away. To help ease the process of reentering the US market, Peugeot's parent company PSA is looking to buy another automaker.
PSA purchased the Opel and Vauxhall brands from General Motors back in 2017 and has already brought both companies to profitability. After succeeding in its first acquisition, PSA believes it's time to make another big purchase. According to Les Echos, PSA could now be looking to acquire either Fiat Chrysler Automobiles or Jaguar Land Rover.
PSA Group CEO Carlos Tavares reportedly has the backing of Robert Peugeot, the president of the Peugeot family holding company, to make another large acquisition. "We supported the Opel project from the start. If another opportunity comes up, we will not be braking, Carlos knows that," Peugeot said. "The Opel operation is an exceptional success, we didn't think that the recovery could be as fast."
FCA has been rumored as a potential target for Peugeot, as the company has already expressed interested in being acquired or forming a partnership. "With them, as with others, the planets could be aligned," Robert Peugeot said while referring to FCA.
FCA would be a good acquisition target because of its exposure to the US market with the Jeep and Ram brands. At the 2019 Geneva Motor Show, FCA CEO Mike Manly said he would be open to "any deal that would make Fiat stronger." PSA CEO Carlos Tavares also said JLR or General Motors could be good fits. It will be interesting to see if Peugeot makes a big move here to solidify its presence in the US before arriving with its own core brand in 2026.