Given that we spend an inordinate amount of time writing about interchangeable, egg-shaped crossovers, we're excited for the return of the quirky French automaker to our shores (despite the fact that they, too, build their fair share of interchangeable, egg-shaped crossovers). Larry Dominique, CEO of PSA North America, confirmed in a keynote at the Center for Automotive Research that Peugeot will return to the U.S. in 2023. It’s been quite a long time since Groupe PSA – now known as Stellantis thanks to the merger with Fiat Chrysler Automobiles – announced its. ), He added this was happening “at a time when our research tells us consumers are looking for a simpler, more efficient process, our retail structure defaults to spending money on fountains and Taj Mahals — a good example of disconnect or lack of reality if you ask me.”, Fiat Chrysler and Groupe PSA have selected a new name for the merged company: Stellantis. The most LOL-worthy things the Internet has to offer. Peugeot plans to offer potential buyers the ability to buy cars online, foregoing the traditional dealer model, while still allowing prospective owners to test drive the cars. The deal is expected to close in early 2021. Peugeot is slated for a return to the United States market by 2023, according to PSA North America chief executive Larry Dominique in his address to Center for Automotive Research, according to … “To this day we’re still building huge dealerships costing tens of millions of dollars exacerbating the very fixed cost absorption model existing today,” Dominique said. Today PSA intends to reintroduce the brand to North America. Augusto Bove is a News Writer for Hot Cars. The Detroit Bureau. The company's logo, initially a lion … The Peugeot family of Valentigney, Montbéliard, Franche-Comté, France began in the manufacturing business in the 19th century. NEXT: What We Just Learned About Fiat-Chrysler's 2021 Lineup. While we initially thought that we'd be looking forward to next generation cars, that's not the case. PSA North America chief Larry Dominique said that Peugeot was still expected to return to the U.S. by 2023. Let's see what these latest developments mean for the brand and the domestic market. They are basically at zero before manufacturers add in incentives boosting the profit margin to around 2.3%, he said. Peugeot's small cars and weak engines gave the brand a bad reputation in the US market, and in 1990, after many years of slow sales, they decided to leave the American market. Dominique said it “sounds pretty good to me.”. Carlos Tavares, who is CEO of the Peugeot mothership, Groupe PSA, had previously said Peugeot would be re-entering the U.S. by 2026, but he now … Firefighters Destroy A Mustang Shelby Cobra GT500 For Training Purposes, Peugeot Returning To The U.S. Market In 2023, FCA, on the other hand, which was late to the electrification game, Fiat Chrysler And Peugeot Agree To $50 Billion Merger Deal, What We Just Learned About Fiat-Chrysler's 2021 Lineup, A Look Back At The Bonnet Type KEI Suzuki Mighty Boy, Donate To Petersen Automotive Museum And Get A Chance To Win A 2005 Ford GT And $20k, Here's What Happens When Cyberpunk 2077 Meets The Porsche 911 Turbo, Confirmed: SSC Tuatara Does 331 MPH In Onboard Video, Check Out This 'Thundersnake' Ford Thunderbird Carroll Shelby Should Have Built, Nissan 400Z Vs Toyota Supra: Here's Which Sports Car Is Right For You, A Look Back At The 1970 Dodge Super Bee Muscle Car, Here's Why A Harley-Davidson Inspired Electric Chopper Bike May Be Right For You, This Is The Best Scrambler Motorcycle You Can Buy, GMC Hummer EV: Everything We Know 24 Hours Before Its World Premiere, Review: Air-Cooled Fun In A Concours-Level 1985 Porsche 911, Here’s How NASCAR Fans Are Dealing With The Recent Changes, The True Cost Of Owning A Mercedes E-Class, Here's Why The Koenigsegg Gemera GT Is The Best 4-Seater Supercar, Lamborghini Digs Out A Countach And Jarama From Museum For Modern Rally, Retro Review: Ken Block Sets The Internet On Fire In His First Gymkhana Video, Here's Why Jaguar Stopped Making the S-Type. One year earlier, the brand sold 4,261 vehicles in this part of the world, of which 70 percent were 405s. Customers want “a simpler, more efficient” car-buying process, he added. It wasn't until 1986 that it started manufacturing cars. PSA’s return to North American comes as the company lets the ink dry on a partnership deal with Fiat Chrysler Automobiles. The new NIO EE7 concept will apparently premiere at NIO Day in January. That’s why the company puts lots of effort into the next-generation 3008, which should arrive around 2023. If consumers are looking for more convenient ways to buy a car, then Peugeot’s return while bucking traditions could be a win formula. PSA recently spun off its mobility unit, Free2Move, and PSA North America’s mobility efforts are now limited to one metropolitan area – Washington D.C., which has become a test lab for PSA North America, Dominique said. While success won't come easy, Peugeot faces many of the same competitors it faces in Europe. “I mean, after all, compared to PSA-FCA, or FCA-PSA, Stellantis sounds pretty good to me.”. Moreover, the pandemic has shown that online retailing is effective particularly in large metro areas. The new company, called Stellantis, will be the fourth-largest carmaker in the world with annual deliveries of around 8.7 million vehicles. (Peugeot will be the brand of choice for PSA’s reborn dealership network. In particular, he noted certain dealers had to use a specific type of marble in the construction of their stores. Peugeot, specifically, wants to come back to the United States because it’s an extremely lucrative market. Car and Driver reported the news, which they gleaned from the Wall Street Journal. Peugeot To Bring Compact And Midsize Models To U.S. Peugeot Confirms Return To The United States… In 2026, Peugeot Accelerating U.S. Return; Could Be Here By 2023,, 2022 GMC Hummer EV Debuts Today: See The Livestream And Pre-Show Right Here, New Volkswagen Golf R Spied During Final Testing, 2022 Kia Sportage Rendered With Revolutionary Design, Enter Now To Win This Ultra-Rare 200-MPH Cadillac CTS-V Championship Edition, 2021 Mustang Mach 1 'Very Close' To GT500 On Short Tracks. The French automaker then laid out … A fresh take on sports: the biggest news and most entertaining lists. Since then, it has become one of Europe's best selling brands and one of the most recognized French companies around the world. Together they represent revenues of over $180 billion and an operating profit margin of 6.5%, which is very good for the automotive industry, finally allowing both companies to rival groups like Toyota, VAG, or GM. According to Dominique, the process is already underway, and Peugeot is looking to start in 2023 with dealers. This enables Disqus, Inc. to process some of your data. Making the process even tougher is the fact that manufacturers have prodded dealers into building larger and more expensive dealerships to very specific standards. All contents copyright © 2009-2019, The Detroit Bureau. If you continue to use this site we will assume that you are happy with it. So they decided to merge, and that's how Stellantis was born.

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