The Nation Newspaper

Tag: Peugeot

  • PAN set for Peugeot 301, 508 production

    PAN set for Peugeot 301, 508 production

    The new Automotive Policy has received a boost with the consolidation of Technical and Commercial synergy between Automobile Peugeot (AP) France and Peugeot Automobile of Nigeria (PAN) Nigeria Limited.

    To strengthen the Technical and Commercial agreement renewed with AP France last year, the management of PAN has received a team of auto manufacturing experts from AP France, who came in to inspect the company’s facilities in readiness for the production of Peugeot 301 and 508 vehicles scheduled for the second quarter of the year

    This development is coming barely three months after the Federal Government approved the new Automotive Development Plan aimed at developing Nigeria’s Automotive Industry (NIA), and place Nigeria in the league of auto-producing countries.

    AP France team expressed delight with the standard of the factory’s equipment, and expressed confidence that PAN is ready to commence production.

    PAN Nigeria Limited Managing Director, Mr Ibrahim Boyi, who received the team, thanked the visitors.

    PAN, Boyi said, was ready to re-establish its position as the pioneer and leading auto manufacturer in Nigeria.

  • Peugeot shares tumble as GM offloads stake

    Peugeot shares tumble as GM offloads stake

    Shares in French carmaker PSA Peugeot Citroen fell a further 11.6 percent on Friday, making for a 23 percent fall in just four days, after U.S. alliance partner General Motors sold its stake ahead of a possible new share issue by the struggling French carmaker.

    The 7 percent stake, totalling 24.84 million shares, was sold at 10 euros apiece in a private placing with institutional investors, traders said, at the bottom of a range of 10-10.25 euros and at a 5.9 percent discount to Thursday’s closing price.

    Peugeot shares had lost 7.6 percent on Thursday after the company unveiled a 1.1 billion-euro writedown at its ailing overseas operations and confirmed it was pursuing a tie-up with China’s Dongfeng Motor Group which would be underpinned by a share issue. The stock was trading at 9.59 euros by 0940 GMT, valuing Peugeot at 3.4 billion euros ($4.68 billion), a loss of 940 million euros since Monday’s close.

    Goldman Sachs analysts removed Peugeot from their pan-Europe “conviction buy list” on Friday, citing “increased dilution risk”. The broker kept its “buy” rating but cut its target price to 12.1 euros from 16.4.

    Peugeot said on Thursday that discussions with Dongfeng were at a “preliminary stage”, with no guarantee they would conclude successfully.

    But a source familiar with the matter said the carmaker’s board agreed on Tuesday to enter final negotiations on an outline deal that would see the French state and Dongfeng take matching 20 percent stakes in Peugeot with a share issue to be priced at below 7 euros a share.

    Asked on Friday if the French state would take part in the potential capital increase, Industry Minister Arnaud Montebourg told RMC radio: “I cannot answer your question. Will the question arise? Without doubt. But for now, let the companies discuss between themselves.”

    He said the government had the ability to sell state holdings in certain companies and invest in others, without being specific.

    However, he added: “The red line is that PSA will remain French. That is our position.”

    General Motors said on Thursday that it would not stand in the way of a deal between Peugeot and Dongfeng, although the U.S. carmaker also said its industrial cooperation with the French group remained strong.

    “GM’s decision is maybe not so bad insofar as it simplifies the shareholder structure and could facilitate the partnership with Dongfeng,” Aurel-BGC analysts said. “Furthermore, GM doubtless didn’t want to be massively diluted.”

    One of the worst casualties of Europe’s economic slump and six-year car sales decline, Peugeot is cutting jobs and plant capacity in an attempt to halt losses within two years.

    Peugeot and GM lowered savings goals for their reduced alliance on Thursday, but said joint development of compact and small minivans would continue, and that a delivery van programme was also being considered.

    GM also waived its right to withdraw cooperation in the event of a Peugeot stake sale to a third party, clearing the way for Dongfeng.

     

    Culled from www.reuters.com

     

  • PAN, France firm revive partnership

    PAN, France firm revive partnership

    Nigeria’s giant auto maker, Peugeot Automobile Nigeria Limited (PAN) has revived its partnership with its foreign Technical Partner, Automobile Peugeot France (AP France). According to the company’s new Managing Director/Chief Executive Officer, Mr Ibrahim Boyi both partners have enjoyed long term business relationship, spanning over four decades.

    In a statement Pan Head Corporate Communication Musa Bashir Usman quoted Boyi saying that the deal is being rekindled for a renewed commitment to polish the technical and commercial agreement before the end of the year.

    Both parties, according to Boyi, would focus on enhancing commercial, technical and investment relationship which components are transparent pricing negotiation for cars and spare parts, based on Global Pricing Structure.

    This development is coming at a time the Peugeot Dealers Association of Nigeria (PDA) has assured the new PAN Management of its loyalty and support, as management settles in their task of restructuring and redirecting the firm.

    At a Special Dealers Forum held by PAN for its Peugeot dealers, Boyi stressed the urgent need to turn around the company, which he described as a national monument, to meet the aspiration of its founding fathers.

    He said effective workforce (human Resource), dealership (Supply chain) were fundamental and critical to attaining the desired goals.

    The Managing Director promised to resolve whatever problems that might have existed between the PDA and PAN in the past.

    “We all have a common interest and the common interest is the effective performance of PAN and its products in the market” he stressed, pointing out that the main objective of the new management is to build customer/dealership loyalty and at the same time leverage on government policies and incentives that will ensure benefits and concessions towards ensuring corporate and brand leadership.

    “We will work with the dealers to see how we can proliferate after-sales care and support; we would ensure Peugeot affordability and accessibility wherever the customer is so as to guarantee efficient after-sales support across Nigeria,” he added.

    PDA Chairman Chief Onyemuche Nnamani pledged his association’s continuous loyalty and support, adding that the it has confidence in the ability of the new Management going by their enviable track records and wealth of experience. He also pledged that the Dealers would henceforth stock enough Peugeot vehicles in their showrooms and warehouses; buy and stock spare parts; send its staff members for training and re-training; and uphold the Peugeot brand standard.

    Meanwhile, the new management and the leadership of PDA are due in Berlin, Germany to consummate the synergy.

  • Peugeot returns with 301 model

    Peugeot returns with 301 model

    AP France and M.S. and Sons have unveiled the new Peugeot 301 to the public amid pomp and pageantry in Abuja last week. TAJUDEEN ADEBANJO reports

    The new Peugeot 301 has been described as a rugged car with enough room.

    It comes at an affordable price.

    It was made from over 120 years of automotive experience and stands out as car loaded with the best in terms of safety, space and comfort.

    The car, according to its manufacturers, can compete in the automobile industry.

    It provides comfort for its passengers and also exudes great space and opulence.

    The Allure, with 1.6 engine, is in the top range while and Active with same capacity is the middle range. Access which is the lower range has a capacity of 1.2.

    The 301 has many equipment designed to make journeys easier. From its comfortable interior to its driver assistance technology and plush dashboard, the 301 is a perfect blend of style and driving comfort. Its instrument cluster is complete with a monochrome matrix which displays information about the on-board computer.

    It was unveiled by ASD Motors Group on behalf of AP France and M.S and Sons last week in Abuja.

    The company’s Group Managing Director (GMD) Alhaji Shehu Sani Dauda said Peugeot wants to use the car to make a statement that the company is back.

    “By we are back. I mean that we have been absent for about a year. Our clients have been requesting us to be present in the sedan lower earning segment of the automobile sector.

    “The coming of this car is to tell you that we have a new global initiative that is produced and suitable for clients’ world-over. We produce for the global market now, not just for segments like Europe and Africa,” he said.

    Dauda said the Peugeout 301 has been unveiled in Dubai, Kuwait, China and other Asian countries, adding that the manufacturers are targeting Africa.

    The GMD further said, “The 301 is rugged, spacious and affordable. One thing people should understand about this car is that it is very affordable and cheaper than most of its competitors.

    “While most other cars in this category go for above N4.3million, our product is about N3.5million. We are going to have another entry product which will come with a 1.2 litres engine that will cost less than N3million. You can imagine what the impact, will be? We intend to make it affordable. We intend to make all Peugeot lovers we lost to come back to us and to also make them know we are thinking of them.”

    The car is very fuel efficient and has more power than other brands in the category.

    It’s about 150HP and also more of the modified engine of 307.

    “In terms of sales, we are quite down but we are coming back. This is the product that will make us catch-up. As you can see, it is definitely going to make an impact based on the quality and features it has. We will give them (competitors) a run for their money. We are back. We, are ready and they going to feel our impact very soon,” he said.

    The 301 is unmistakable Peugeot styling exudes French elegance, while its impressive road handling and superior fittings makes driving a pleasurable and comfortable experience.

    “What I’m showing you is a product that has been developed to adapt to all conditions of use, even in extremes, such as hot countries, cold countries and poor road surfaces,” Dauda said, adding that the 301 is strong on the outside and also comes with a generous inside.

    The GMD revealed that the slogan of the new car-‘Know how.’ He said the new bride has great promise in style and quality that can stand the test of time. According to him, the 301 is car of today and the future in view of its robust design that inspires confidence, stability and durability.

    It uses ultrasound sensors installed in the rear bumper to detect nearby people or objects, thereby communicating the distance of the obstacle visually through sound via the screen of the Bluetooth audio system.

    Furthermore, the speed limiter, working in tandem with the cruise control allows the driver set a maximum speed limit. A hard point in the accelerator pedal lets the driver know when the set limit has been reached. The driver can then momentarily override the limit if be by applying greater foot pressure on the pedal. The highly innovative 301 has a heating element inserted between the windscreen’s two sheets of glasses, a device which heats up the area around the wiper blades, ensuring they never stick. It is controlled through the same button as the rear windscreen demister and together the two guarantee the much needed convenience in cold weather.

    Dignitaries who graced the include, Chairman/Chief Executive Officer (CEO) MBU Motors Dutse, Jigawa State, Alhaji Bala Muhammed Umar; MD/CEO, MNL-ASAO, Mr Ismail Oladejo, MD/CEO Road Truckers, Chief Oladele Benson Acting Managing Director PAN Nigeria Limited, Mr Jaime Pena among others.

  • Peugeot woos lost customers with new product

    A  SD Group, marketers of Peugeot brand in the country, has said manufacturer of the new Peugeot 301 saloon car, designed the new product to woo its lost customers.

    Managing Director, MS & SONS, marketers and distributors of the product, Mr. Shehu Dauda disclosed this at the unveiling ceremony at the weekend in Abuja.

    Dauda said: “We intend to make all Peugeot lovers we lost to come back

    to us and to also make them know we are thinking of them.”

    According to him, with the new 301, Peugeot would adequately compete with other notable saloon car manufacturers in the Nigerian automobile space.

    “Peugeot want to use this car to make a statement that we are back. We are back in the sense that we have been absent for about a year. Our end clients have been demanding us to be present in the sedan lower earning segment of the automobile sector.

    “This car is to tell you that we have a new global initiative that is produced and suitable for clients’ world-over. We produce for the global market now, not just for segments like Europe and Africa,” he added.

    Dauda said the 301 has been unveiled in countries like Dubai, Kuwait, China and other Asian countries, adding that the manufacturer targeted more of Africa.