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PSA Peugeot Citroen, PAN Nigeria sign assembly agreement

By on August 10, 2014

PSA Peugeot Citroën and PAN Nigeria Limited have signed an agreement to assemble and sell cars in Nigeria.
The Peugeot 301 will be the first vehicle to be assembled under the pact in the second half of 2014 at PAN’s Kaduna plant, according to a statement issued after the signing ceremony.
However, the statement said, “Under the terms of the agreement, PAN Nigeria Limited will also be able to assemble the Peugeot 508 and the Peugeot 308.”

Peugeot would leverage a network of roughly a dozen dealers that would be capable of rapidly implementing the quality standards required by the brand and supporting its business growth in the country.
PAN said, “The agreement is aligned with the new automotive industry development policy established by the Nigerian government.”
The pact is leveraged on the fact that Nigeria is emerging as a key growth driver at the level of the entire continent. Also that the Nigeria is Africa’s most populous nation with about 170 million people, and its largest economy with GDP of €372 billion in 2013 and growth of 7.4 per cent forecast for 2014.

Commenting on the signature of this new agreement, Jean-Christophe  Quémard, Operations Director, Africa-Middle East said: “This assembly agreement perfectly illustrates what the Group aims to achieve with its new region-based organisation.
“As announced in the “Back in the Race” strategic plan, we are going to focus more on growth markets.
The assembly of the Peugeot 301 in Nigeria, a growth pillar in Africa, will enable the Group to take full advantage of growth opportunities in the market.”

PSA Peugeot Citroën, the second largest carmaker in Europe, has three world-renowned brands, Peugeot, Citroën and DS, and the company sold 2.8 million vehicles worldwide in 2013, of which 42 per cent were outside Europe.
PSA Peugeot Citroën recorded sales and revenue of €54 billion in 2013.
The Group is the European leader in low-carbon vehicles, with average emissions of 115.9 grams of CO2 per km in 2013. PSA Peugeot Citroën has sales operations in 160 countries. It is also involved in financing activities (Banque PSA Finance) and automotive equipment (Faurecia).

 

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