Groupe PSA has been awarded the prestigious ‘Manufacturer of the Year’ title at the 2020 Automotive Management (AM) Awards ceremony, held at Birmingham’s International Convention Centre (ICC) on 13th February.
Beating other large volume manufacturers including Volkswagen and Volvo to the title, Groupe PSA was lauded by judges for its standing as a leading carmaker and mobility provider.
The expert-judging panel for the Automotive Management awards commented: “This is a vehicle manufacturer that some observers thought was running out of road a decade ago. It has faced numerous challenges, embraced new thinking, battled to improve efficiency and is now a strong automotive force.
“Groupe PSA is now a significant consolidator of the automotive industry. Its acquisition of Opel Vauxhall in 2017 brought synergies and product development opportunities that all its brands are benefitting from. The AM Awards judges said Groupe PSA’s ownership and leadership has freed Opel Vauxhall from the shackles of General Motors, empowered the business to refocus alongside PSA’s historic brands, develop good practices and, crucially, enabled it to turn a profit.
They also went on to add: “In the first half of 2019 it made €3.34 billion (£2.86bn) operating profit thanks to its strong product mix and reductions in costs. Profitability reached record levels, at 8.7% operating margin.
“At the time, boss Carlos Tavares stated: “We are ready for electrification and to embrace the next technological challenges.”
“In its enlarged form, Groupe PSA is well placed to keep pace with changing consumer and regulatory demands.
“The group is cementing its position as a leading carmaker and a mobility provider, one which is adapting to ensure it will remain relevant and reliable for consumers in the years ahead.”
Alison Jones, Group Managing Director UK and Senior Vice President Groupe PSA, commented: “To be recognised as ‘Manufacturer of the Year’ by a title as influential as AM is a proud moment, recognising the efforts of our global team in Groupe PSA, in terms of strategic thinking and driven implementation. 2020 marks an exciting year for our brands globally, particularly with our clear and defined electrification strategy that will see every model in the group portfolio being made available with an electrified powertrain by 2025.”