Last Updated on: 22nd November 2023, 07:16 am
PSA Group was recognised in the OEM category for the flawless implementation of its strategic Back in the Race plan, which enabled it to restore its financial fundamentals in record time.
The L.E.A.D.E.R awards, a joint initiative by Automotive News Europe and AIC-Automotive Intelligence Centre, are handed out each year to outstanding performers in the automotive industry. This year’s awards ceremony was held at BMW WELT in Munich, Germany.
Jason Stein, Automotive News Publisher and Editor, applauded “the successful implementation of PSA Group’s Back in the Race revitalisation plan, which helped accelerate the automaker’s recovery following some difficult years. The strategy put heavy emphasis on improving net pricing at PSA’s Peugeot, Citroen and DS brands and required the automaker to optimise its operations to improve its competitiveness in Europe and around the world. By following the plan, PSA achieved in two years an operating profit margin that it expected to reach in five.”
Denis Martin, PSA Group’s Executive Vice-President, Operations Europe, collected the award on behalf of the Group, saying “this Award recognises the commitment shown by each and every PSA Group employee in implementing the Back in the Race plan in Europe and around the world. It also provides an incentive for our teams to successfully implement the new Push to Pass strategic plan”.