Now solidly in the race, PSA prepares for acceleration

PSA Peugeot Citroen has announced the official completion of its Back in the Race turnaround plan as it ticks off the final targets. The plan was introduced by company Chief Executive Carlos Tavares in 2014, shortly after he took over the top spot at the French OEM. The roadmap, designed to speed up the company's recovery, called for recurring positive Group operating free cash flow by 2016 at the latest. €2bn (US$2.2bn) in total Group operating free cash flow over the 2016-2018 period, and a 2% operating margin in the Automotive Division by 2018, with a target of 5% during the next medium-term plan (2019-2023).