AUTO INDUSTRY NEWS

Peugeot confirms plans to re-enter US market

Peugeot confirms plans to re-enter US market image

Anton Andres / Peugeot | April 07, 2017 15:33

Peugeot sets their eyes on US comeback

After acquiring Opel from General Motors, French automobile manufacturer PSA Peugeot Citroen is keen on expanding their market. Peugeot has just confirmed their plans to re-enter the US market by appointing Larry Dominique as senior vice president for PSA Peugeot Citroen North America to lead the operations.

Dominique has over 30 years of experience in the U.S. automotive industry, having worked at General Motors, Chrysler and Nissan. He is also serving as President of Automotive Lease Guide (ALG) and Executive Vice President of TrueCar.

The automaker said they plan to take on those markets with the introduction of their Free2Move car sharing service in those countries. PSA's service was recently launched just a few days ago, April 3, 2017, in Los Angeles. From there, they will do a larger scale deployment throughout the country.

This new attempt to enter the North American market is part of Peugeot's “Push to Pass” plan that will run for 10 years. Peugeots were sold in the US in the past. First offered in 1960, their initial range included the 404 and the 504. By the late 80's however, the unfavorable exchange rate between the US Dollar and the French Franc led to the Peugeot 405 getting slapped with an uncompetitive price tag. Peugeot stopped offering cars in the US in 1991.

Despite that, Peugeot still maintained an office in Michigan until 2013, signaling their intentions to sell cars in the country. Older Peugeot models have been spotted around the state for evaluation.

“With the creation of PSA North American entity, PSA Group makes an important step forward in the roll-out of our project to progressively enter the region. Moving forward, we will ramp up our mobility activities and the development of car-sharing services, among other efforts,” said Carlos Tavares, Chairman of the Managing Board, PSA Peugeot Citroen.

Peugeot has yet to announce when they plan to roll out their models in America.