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Tag: Peugeot

  • Peugeot to start Nigeria plant

    A joint venture (JV) comprising Africa’s richest man, Aliko Dangote and five Nigerian state governors will see the production and assembling of cars in Nigeria by French carmaker, PSA Peugeot Citroen in the first quarter (Q1) of 2019. Peugeot Automobile Nigeria (PAN), a technical partner with Peugeot Citroen, will assemble 3,500 units in the first year and ramp up to 10,000 units later on at a plant that will be situated in Kaduna, the Kaduna State capital.

    “The first vehicle should come out by the first quarter of next year. We are hoping that the factory will be completed by December. The land has been identified … we have advertised for a contractor that will build the factory,” Jimi Lawal, the adviser to the governor of Kaduna, told Reuters in an interview.

    First, Peugeot would build its 301 sedans in small volumes from semi-assembled kits of parts shipped from its plant in Vigo, Spain. Then the production of additional models such as the 308 compact and 508 may follow, the French carmaker said.  Three brands of Peugeot will be assembled in the country and exported to the rest of West Africa.

     

     

  • Peugeot, Khodro to invest 400-million-euro in Iran

    PSA Peugeot Citroen and its Iranian partner announced a five-year investment plan to upgrade their auto plant in the country.

    The Paris stop during the first European tour of the Iranian President Hassan Rouhani concluded with a business deal for PSA Peugeot Citroen, an agreement which the French carmaker considers the first industrial accord signed by a western company since the economic sanctions on Iran were lifted this month.

    The deal marks the rebuilding of ties between PSA and its long-time partner Iran Khodro, the biggest automaker in the country. The venture’s plan is to start the production of 100,000 vehicles a year in the second half of 2017, and to double the output capacity at a later stage.

    For revamping the 50-year-old factory near Teheran, both sides agreed to invest 400 million euros (435 million dollars) in the next five years for building Peugeot’s 208 hatchback, 301 sedan and 2008 crossover.

    “This strategic agreement turns the page on the period of international sanctions and enables PSA and Iran Khodro to start a new chapter in their 30-year history of cooperation,” Peugeot Chief Executive Officer Carlos Tavares said at a Paris press conference.

    Iran Khodro and Peugeot will add two other models to their production line later, with 50 percent of production to be undertaken in Iran.

    The Iranian market reached a peak of 1.6 million vehicles in 2011. It should regain this level within two years, reaching two million vehicles a year by 2022, PSA said. Current estimates put the number of Peugeot cars on the road in Iran at more than four million. Peugeot withdrew from Iran in 2012 as a result of sanctions over Iran’s nuclear program.

    Before the forced exit, the two partners sold 473,000 units in 2011 in the country. PSA’s French rival Renault said it also plans a “much more massive” presence in Iran as well, expanding Renault’s operations by closing more deals with a wider range of local partners.

  • FCMB, Peugeot deepen auto financing

    First City Monument Bank (FCMB) Limited and Peugeot Automobile Nigeria (PAN) have launched an auto finance and acquisition scheme. The development is part of efforts to help individuals, (including the self-employed) and employees of organisations, corporate bodies and institutions within the public and private sectors, to become car owners in a convenient way.

    Under the scheme, which was unveiled at the weekend in Abuja, qualified customers of FCMB would be able to own a new Peugeot for a low as N80,367.68 under a monthly repayment plan up to five years. The new generation Peugeot brands on offer in the scheme, with varied monthly instalment payments, are the 301 ranges (Access, Active, Allure PRS, LXP); the 308 models (Allure Executive and Allure PRS); the 3008 (Active and Active LXP); 4008 and 508 (Active and Access).

    At the launch, the Regional Director, Abuja and North, FCMB, Lukman Mustapha, said  the partnership is a value-added consumer loan offering aimed at expanding the scope of vehicle ownership in the country. He said: “We have designed this scheme to enhance the lifestyle of our existing and potential customers through discounted pricing, flexible repayment and other benefits associated with it.”

    Mustapha stated that as an inclusive lender with a strong retail franchise, FCMB is committed to create opportunities for not just its customers, but all segments of the society in line with its values as a simple, reliable and helpful financial institution.

    FCMB’s Divisional Head, Retail Banking, Olu Akanmu, explained that apart from the flexible and convenient repayment plans, the scheme offers many benefits. Among these are free vehicle registration and tracking, three-year extended vehicle maintenance service, discounted insurance premium and discounted interest rate.

    Akanmu assured that, “throughout the period of this scheme, our customers, who sign-on will not have to worry about releasing bulk cash to acquire a brand new Peugeot vehicle. With this offering, they will be able to meet other needs at the same time”.

    Managing Director/Chief Executive of Peugeot Automobile Nigeria (PAN), Ibrahim Boyi, said the auto maker is excited to partner FCMB to make the acquisition of vehicles easier for Nigerians. “This is a partnership between two notable and viable brands. The auto finance scheme offers new evolutions of Peugeot cars that are durable, provides safety, comfort and fully adapted to Africa’s climate,” he said.

    While advising potential beneficiaries of the scheme to live within their means and, “avoid abusing the credit facility, which the Bank will provide to them”. Mr. Boyi expressed optimism that, “many Nigerians will take advantage of this opportunity to become car owners”.

     

  • Frankfurt motor show: Peugeot to parade music-based car

    Other automakers will be asking Peugeot to turn down the stereo, as the upcoming Frankfurt motor show will feature what is billed as the first music-based concept car, wrapping tech from a company called SubPac in the Fractal electric roadster.

    SubPac is a technology that takes delivery of sound to a new level by integrating tactile-bass technology into the four seats of the concept roadster, promising an immersive music experience for the driver and passengers. The underlying tech itself is available as a wearable backpack or a chair-back unit, translating low frequency-sound into a tactile experience. The patent-pending technology promises a new experience for gamers, music lovers, Disc Jockeys (DJs), producers and drivers.

    Peugeot’s Fractal concept has been designed with SubPac tech in mind, incorporating the Tactile Bass system in to the four seats of the electric roadster. As an EV, it promises not just a more immersive music experience but also the ability to alert other road users of its approach by producing sounds specific to its status, deceleration, cruising speed and, of course, acceleration.

  • Peugeot to build plant in Morocco

    PSA Peugeot Citroen has unveiled plans to build a 557 million euro ($630 million) Moroccan factory, as the French carmaker seeks to reduce both production costs and its reliance on Europe following a brush with bankruptcy.

    The site near the coastal city of Kenitra will begin assembling small and subcompact models for Africa and the Middle East in 2019, Chief Executive Carlos Tavares said after signing the investment deal at Morocco’s royal palace in Rabat.

    An initial yearly production capacity of 90,000 vehicles is expected to rise to 200,000 as sales pick up, he said.

    The planned factory, first reported by Reuters last November, represents a belated step by Paris-based Peugeot to expand into lower-cost vehicles and emerging markets, reducing its exposure to Western Europe’s relatively stagnant demand and high production costs.

    It is also a sign of Morocco’s growing industrial clout, which has seen it draw increasing investment in sectors ranging from cars to aerospace.

    Peugeot said it expects the plant to source 60 percent of components locally, rising to 80 percent as the supply chain develops. It will have a 4,500-strong workforce once at the 200,000-vehicle capacity.

    “Africa and the Middle East are historic markets for PSA and the region is expected to become a profitable driver of our internationalisation,” Tavares said.

    The former Renault second-in-command took over at Peugeot last year, following a three billion-euro government-backed bailout in which it sold matching 14 percent stakes to the French state and Chinese carmaker Dongfeng after racking up billions of euros in losses.

    Under his “Back in the Race” recovery plan, Peugeot is pursuing a five percent operating margin.

    The core automotive division returned to a small profit in 2014, but with about 60 percent of sales still recorded in the cut-throat European market, where the profitability of mass-market carmakers is under constant pressure.

  • Peugeot to set up factory in Morocco

    Peugeot to set up factory in Morocco

    French carmaker PSA Peugeot Citroen has announced plans to set up a factory in Morocco.

    The plant, possibly near the city of Kenitra, would have an initial production capacity of around 100,000 vehicles, the source said, echoing a report by Bloomberg news agency.

    A Peugeot spokesman said the group was currently focused on developing sales in Morocco before envisaging any industrial presence in the North African kingdom.

    “In the medium term, we are thinking about an industrial presence to accompany the development of our brands in the region,” the spokesman said, adding Morocco was one of the countries being considered.

    Reuters reported in November that Morocco, where Peugeot has outsourced research and development activities, featured among the projects of new boss Carlos Tavares as he seeks to increase the French carmaker’s footprint in lower-wage countries.

  • Peugeot leads Europe in Co2 emissions

    Peugeot leads Europe in Co2 emissions

    PSA Peugeot Citroën has recaptured its first place in emissions reduction at the end 2014 in Europe, with an average of 110.3 grams of CO2 per kilometre* (source: AAA DATA), compared with an average of 123.7 grams for the European market.

    Since 2008, the group has gradually lowered its vehicle emissions by about 30 grams.

    The new record illustrates PSA Peugeot Citroën’s commitment to finding practical solutions to environmental problems. More than 50 per cent of its R&D budget is devoted to developing technologies aimed at improving the fuel and environmental performance of its vehicles.

    PSA Peugeot Citroën’s top ranking is primarily the result of its engine downsizing strategy and the introduction of new PureTech 3-cylinder petrol engines, as well as the introduction of new-generation, fuel-efficient BlueHDi diesel engines.

    In 2014, nearly 30 per cent of vehicles sold by the group emitted less than 100 grams of CO2.

    Paired with these highly efficient petrol and diesel engines, many group models are low-carbon leaders in their category. Due to the fact that they represent a significant proportion of European sales, they contribute to an overall reduction in emissions.

    This petrol version also set a new fuel economy record of 2.85 litres per 100 kilometres, covering 1,810 kilometres on a51-litre tank of fuel.

    The recent Peugeot 308 and Citroën C4 Picasso models (built on the new EMP2 platform) and the Citroën C4 Cactus (launched in 2014) weigh significantly less than their predecessors, by 140 kilograms and 200 kilograms, respectively, which is a key factor in reducing emissions.

    “The outstanding reduction in CO2 emissions is the fruit of PSA Peugeot Citroën’s advanced petrol and diesel engine technologies but also of its ongoing research to make lighter, more aerodynamic cars,” said Gilles Le Borgne, Executive Vice President, Research and Development, PSA Peugeot Citroën.

    “The group continues to invest heavily in research and innovation, particularly in the field of plug-in hybrid technologies and new-generation electric vehicles,” he added.

  • Peugeot loan scheme receives boost

    Peugeot loan scheme receives boost

    Former Head of Morbid Anatomy Department, College of Medicine of University of Lagos/Lagos University Teaching Hospital (CMUL-LUTH), Prof Fatimah Abdul-Kareem became the first customer in South-West to acquire a brand new Peugeot 301 Luxury car under the Peugeot Vehicle Acquisition Finance Scheme.

    PAN Nigeria Limited is offering its models to customers across Nigeria through its recently introduced ‘Peugeot Vehicle Acquisition Finance Scheme’ (PVAFS), geared towards aiding civil servants, private sector employees and middle-class own brand new personal Peugeot cars at a low equity contribution rate.

    The PVAFS is designed to offer maximum value to customers far above any existing scheme currently offered by competition in the country.

    Embellished with over 40 years experience in the Nigerian auto market, PAN Nigeria has continued to produce exquisite brand of Peugeot vehicles that offer unsurpassed value to customers in terms of durability, reliability and affordability.

    Prof Abdul-Kareem expressed satisfaction with the scheme, stating that “once you have a stable salary, you can also achieve the goal of having a brand new Peugeot car of your choice by simply walking into Jaiz bank Plc or Enterprise Bank Plc.”

    Jaiz bank Plc, Relationship Manager, Mutiat Dada said Peugeot aside being a foremost automobile company in Nigeria, also produces quality cars.                          “When we had a marketing call with them, our team came up with the idea of providing the populace with easy access to vehicles for those people that don’t have the money to buy a new car.

    “The Peugeot Vehicle Acquisition Finance Scheme is open to everybody that has a regular source of income. Whether they have account with Jaiz or not, the entire process requires minimal documentation, offer letter from Jaiz bank, and offer letter from your employer,” she said.

    Comparatively, if a customer is not disposed to Jaiz bank, Enterprise bank is also providing Nigerians with the opportunity of paying for these contemporary Peugeot cars at very flexible and affordable rates. With as little as 10-20 per cent down payment, interested person can actually drive home a brand new Peugeot car of their choice and conveniently spread the rest of the payment over a period of 48 months.

    PAN Nigeria Limited Managing Director, Mr Ibrahim Boyi described the offer as a great opportunity for Peugeot lovers and indeed all those that appreciate quality and elegance to take advantage of the scheme.

    According to him, “buying a new car has long been regarded as an expensive luxury due to the amount of money required to own one. However, according to research, running a brand new car can be as much as 73 per cent cheaper to run than a used car popularly known as ‘tokunbo’ of just five years older. Set this alongside generous low rate finance deal, which means some new car buyers never end up paying out the full price at once and they end up looking a good option at the end of the day. Although the initial cost of buying a new vehicle is higher, safety tends to be a guarantee for brand new cars while advancements in technology denotes they gulp less fuel and are easier to maintain in terms of overhead cost of overhauling the vehicle when the need arises.

    “In addition to the above stated benefits, new cars also come with a warranty – typically three years; while several new versions of popular models have low emissions, meaning they are environment friendly.”

  • Peugeot backs Ake Festival

    Peugeot backs Ake Festival

    HOW would you rate a book festival that featured Nigerians such as former President Olusegun Obasanjo, Prof Wole Soyinka, Governor Ibikunle Amosun of Ogun State, and his Rivers State counterpart, Rotimi Amaechi? And what would be your expectations from such interactions that also attracted literati from across the globe for 5 days? Expectedly, the corporate bodies that supported the annual festival were leading players in the economy. One of them was foremost Nigerian automobile brand Peugeot was among top supporters of the organisers of 2014 edition of Ake Arts and book Festival through the provision of executive shuttle services for the concluded event in Abeokuta, Ogun State capital.

    The second edition of the Books festival brought many African writers to celebrate African talents in literature, arts, theatre, music, dance and drama.

    The level of support and participation of private organisations, government functionaries, institutions and individuals in the campaign for reading culture in Nigeria through workshops, public readings and book festivals obviously accentuated the theme of the event – Bridges and Pathways.

    Regional Director, Peugoet Automobile Nigeria (PAN), Mr.Erick Maydieu, noted that the need for the promotion of knowledge acquisition informed its support for the festival and arts in all of its genres.

    “We have provided the services of different range of our executive cars to help in the provision of shuttle services to participants at the festival and also to help provide seamless movement for the organisers of the event and all of their premium quests and partners”, he added.

    Part of the activities which gave colour to the six-day days event included varieties of cultural, artistic and literary events. Some of these were woven around readings, master classes, workshops, performances and talks delivered by both Nigerian and international authors, thinkers, poets, filmmakers, actors, artists and academics.

    Many schools in Abeokuta were visited by writers such as Yejide Kinlanko who read from her novel, Daughters who walk this path, a stage play, film showings, musical concert, and a comprehensive book fair which pupils, publishers and book buyers took advantage of.

    Discussions at this year’s festival touched on important issues such as the public and individual perception of nationhood and how freedom of expression in Africa could be established. More targeted themes such as women’s rights and child literacy were also addressed, as a way of examining how the arts can contribute to development in these areas.

  • Peugeot to build cars in Nigeria

    Peugeot to build cars in Nigeria

    PSA Peugeot Citroen, will start producing cars in Nigeria this year with a local manufacturing partner, the French carmaker said yesterday.

    The Paris-based Peugeot firm will begin building its 301 Sedan in small volumes at a plant operated by PAN Nigeria Limited in Kaduna, the company said in a statement.

    The vehicle will be produced from semi-assembled kits of parts shipped from Peugeot’s plant in Vigo, in Spain. Nigerian production of additional models, such as the 308 compact and 508, may follow later, Peugeot said.