Peugeot-Citroen Is Open To New Partnerships After Return To Profits

The PSA Group, which comprises of Peugeot, Citroen, DS, Opel and Vauxhal, is open to new tie-ups, as the French car maker is attracting attention from competitors following its swift turnaround.

PSA Group has been posting record levels of profitability under Carlos Tavares’ leadership, which is pretty impressive for a company that was close to bankruptcy in 2013-2014. The car maker managed a 7.8 percent operating margin during the first half of the year, managing to return Opel and its UK counterpart, Vauxhall, to profit in less than a year of ownership.

“Some of our competitors are looking at us with different eyes,” Tavares told Reuters at the Paris Motor Show.

“If somebody needs a partnership, if we are in good shape, if we have the technology, if we are rigorously managing our company, and somebody is knocking at the door saying ‘we need your support and we would like to have a partnership with you’, we are open for business.”

The focus of the company remains at its own operational strategy, but opportunities for partnerships may come up as some of the competitors struggle with the latest and more stringent emission regulations.

“If we accumulate wealth and good financial results, we may, at some point in time, be facing an opportunity coming from breakdowns in the industry,” he said.“As we have always said, we will always consider opportunities.”