Peugeot seeks to boost its second-hand cars division

Peugeot seeks to boost its second-hand cars division

By Gilles Guillaume and Eamon Quinn

Peugeot-maker, the PSA Group, is targeting a rise in sales and profits in its second-hand cars division, as part of the company’s broader ‘Push to Pass’ strategic plan for up to 2021, said a PSA executive.

Marc Lechantre, who heads up PSA’s second-hand cars unit, said the company was targeting 600,000 sales in 2018, with a target of 800,000 by 2021.

Mr Lechantre said PSA was on track to lift profits within the second-hand cars division by a multiple of four. In July, PSA reported that it had turned its recently acquired, Opel-Vauxhall business sharply back into the black, while achieving record first-half profitability at its French car brands, sending its shares to 10-year highs at the time.

Yesterday, the shares rose 2% in Paris, which brings their gain in the past year to 18%.

The car-maker is valued at €20.8bn.

Separately, Audi Ireland said it appointed Thorsten Godulla as its new managing director. Mr Godulla has worked the previous 25 years with Audi in the UK and at its head offices in Germany, in sales, aftersales, dealer development, and finance posts.

He is currently director of overseas sales for Africa and the Near Middle East region, working out of Germany.

He takes over from Henning Dohrn, who has secured the post of head of sales strategy at Audi’s head offices in Ingolstadt.

Fintan Knight, who heads up Audi in Europe, said it is preparing for new models. “Moreover, one of the next steps is the launch of the all-new Audi Q8”.

Reuters and Irish Examiner staff

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