PSA Group has been honored in the OEM category for its impeccable execution of the strategic “Back in the Race” plan, which allowed the company to swiftly restore its financial fundamentals. The L.E.A.D.E.R awards, a collaborative effort between Automotive News Europe and AIC-Automotive Intelligence Centre, are bestowed annually to exceptional performers in the automotive industry. This year’s award ceremony took place at BMW WELT in Munich, Germany.
Jason Stein, the Publisher and Editor of Automotive News commended the “remarkable execution of PSA Group’s ‘Back in the Race’ revitalization plan, which played a pivotal role in accelerating the automaker’s recovery following challenging years. The strategy placed a strong emphasis on enhancing net pricing for PSA’s Peugeot, Citroen, and DS brands, necessitating operational optimization to enhance the company’s competitiveness in both Europe and worldwide. By diligently following this plan, PSA accomplished an operating profit margin goal initially set for five years in just two.”
Denis Martin, PSA Group’s Executive Vice-President, Operations Europe, accepted the award on behalf of the company, stating, “This Award acknowledges the dedication exhibited by every member of the PSA Group in executing the ‘Back in the Race’ plan in Europe and across the globe. It also serves as motivation for our teams to successfully implement the new strategic plan, ‘Push to Pass’.”