Push to Pass is working wonders at the PSA Group, lets see how they cope with vauxhall and Opel !

Successful execution of Push to Pass strategic plan

• Automotive recurring operating income at €1,442 million up by 10.7%, representing a record recurring operating margin of 7.3%[1]
• Group revenue at €29,165 million, up 5% vs 2016 H1
• Record Faurecia recurring operating margin1 at 5.7%
• Record Net income, group share, at €1,256 million
• Growth of net financial position at €7,631 million thanks to a positive €1,116 million Free Cash Flow[2]

"Groupe PSA record performance was achieved thanks to our customers who have made our last commercial launches great successes, and thanks to the continuous commitment of all Group employees in the execution of the Push to Pass plan, combining agility and business sense. The way the teams overcame headwinds brings confidence for the coming challenges." said Carlos Tavares, Chairman of Groupe PSA Managing Board.

Group revenues amounted to €29,165 million in the first half of 2017, up 5.0% compared to €27,779 million in the first half of 2016. The cumulated growth since the beginning of Push to Pass, excluding exchange rates impact, stands at +8.2%[3].

Automotive revenues amounted to €19,887 million, also up 3.6% compared to the first half of 2016, benefiting from the success of the new models and the pricing discipline.

Group recurring operating income amounted to €2,041 million, up 11.5% compared to the first half of 2016. The Automotive recurring operating income grew by 10.7% compared to the first half of 2016 at €1,442 million. This 7.3% record profitability level was reached despite raw material cost increases and exchange rate headwinds, thanks to a positive product mix and further cost reductions.

Group non-recurring operating income and expenses had a negative impact of -€112 million, compared to -€207 million in the first half of 2016.

Group net financial expenses decreased to €121 million, compared to €150 million in the first half of 2016.

Consolidated net income reached €1,474 million, up by €91 million, in spite of the negative impact of operations in China. Net income, Group share, reached €1,256 million, compared to €1,212 million in the first half of 2016.

Banque PSA Finance reported recurring operating income [4] of €312 million, up 5.1% compared to the first half of 2016.

Faurecia recurring operating income amounted to €587 million, an increase of 19.8% compared to the first half of 2016.

The Free Cash Flow of manufacturing and sales companies amounted to €1,116 million, driven by the improved profitability of operations.

Total inventory, including independent dealers, stood at 374,000 vehicles at 30 June 2017, down 25,000 units from end June 2016.

The manufacturing and sales companies' net financial position at 30 June 2017 was a positive €7,631 million, up €818 million compared to 31 December 2016.

Market outlook: for 2017, the Group expects the automotive market to grow by approximatively 3% in Europe, and 5% in China, Latin America and Russia.

Operational targets

The Push to Pass plan sets the following targets:

• Deliver over 4.5% Automotive recurring operating margin[5] on average in 2016-2018, and target over 6% by 2021;
• Deliver 10% Group revenue growth by 2018[6] vs 2015, and target additional 15% by 2021 [6].

Financial Calendar – 25 October 2017: third-quarter 2017 Revenue

Groupe PSA consolidated financial statements at 30 June 2017 were approved by the Managing Board on 20 July 2017 and reviewed by the Supervisory Board on 25 July 2017. The Group's Statutory Auditors have completed their audit and are currently issuing their report on the consolidated financial statements.

The interim results report and interim financial results presentation for 2017 are available at www.groupe-psa.com, in the “Analysts and Investors” section.

DS Automobiles move forward with hybrids and PHEV vehicles with a new car each year until 2025

• Racing in Formula E is accelerating the development of DS road cars, confirms Eric Apode, DS Product and Development Director
• There will be a new DS vehicle launched every year going forward – all with electrified versions (hybrid or all-electric) included in the range
• By 2025, it is anticipated that more than a third of DS vehicles sold will be hybrid or all-electric

DS is accelerating the development of electrified cars. Starting with DS 7 CROSSBACK, it will be releasing a new model every year, all with an electrified version (hybrid or all-electric). DS Automobiles is competing in Formula E - a valuable test-bed for gaining experience and accelerated development. The recent city-located ePrix races held in Monaco, Paris and Berlin, are followed by those in New York and Montreal providing further opportunities to show the advancing technologies that are being tested and evaluated for future production models, with three specific projects already in their advanced stages. 

Eric Apode, DS Product and Development director, commented; “DS is entering the electrified vehicles scene. By 2025, more than a third of DS vehicles sold will be hybrid or all-electric. The performance models will be provided by the hybrid versions and the first in the series is DS 7 CROSSBACK E-Tense - the DS vision of hybrid power with 300hp and a 60km electric range”. 

Xavier Mestelan Pinon, DS Performance director, explained, “A competition series involving all-electric race cars obviously makes an ideal testing environment for our forthcoming technologies. With each successive race or test-session, we’re accelerating this development and every new component to achieve a better understanding of how to optimise the electric motor drivetrain and the management of energy in particular with cooling in mind.” 

Extended electric range for production models

The connection between the 140mph top speed of the DSV-02 (DS Virgin 2nd gen) race car and the 60km* electric range of DS 7 CROSSBACK E-Tense is that both depend on the techniques used for controlling the energy supplied by the battery and the management strategies of its deployment. This became very clear to the DS Performance teams from the outset of their Formula E involvement and this invaluable data has advanced the know-how of the DS engineering team working on the road car’s petrol-electric hybrid project. 

Electric range of 60km* with the DS 7 CROSSBACK Plug-in Hybrid Electric Vehicle (PHEV)

The petrol PHEV system available on the new SUV from DS, and arriving in spring 2019, will achieve a range of 60km* in all-electric mode, with no compromise to the car’s dynamic performance. Supplementing the 200hp THP (Turbo High Pressure) petrol engine, DS 7 CROSSBACK E-Tense carries two 80kW electric motors to drive each axle, and is capable of deploying a total deployable power output of 300hp with four-wheel-drive. 

Sophisticated electric architecture

Energy loss is the challenge of every automotive engineering team in their constant quest for ultimate efficiency and operational optimisation. All Formula E runners feature the same chassis, front axle system and battery pack, so what makes the difference is the gearbox transmission and the electric motor, and the way the energy is supplied, controlled and cooled - the fruit of each team’s own individual ingenuity. 

In their year-long work on developing the DSV-02, the team of ten engineers and the accompanying host of technicians identified a number of ways for optimising the operating efficiency of the electric motor and transmission system, and the most-suitable aspects of which are being developed for the road-going petrol-electric PHEV drivetrain of the forthcoming DS 7 CROSSBACK E-tense. 

Optimum transmission-motor coupling for an intelligent hybrid drivetrain on DS 7 CROSSBACK

DS 7 CROSSBACK is fitted with the new Efficient Automatic Transmission with 8-speeds (EAT8) located transversely between the petrol-fuelled internal combustion engine (ICE) and electric motor. DS experience and know-how is harnessing the inputs from PSA Group and DS Performance R&D teams to ensure the transmission performance operates with optimised efficiency and performance with the 80kW electric motor. 

*Measured on the MVEG certification cycle.

Electric power capabilities for the future of motoring efficiency

The purpose of the DS Performance engineering team is to make the relevant technologies accessible for the optimised development of DS vehicles. For example, the voltage used on electric vehicles; today’s production vehicles use a voltage of around 400V whereas Formula E race cars use 700V. 

“One of the challenges of the DS Performance team is to fully master component durability, for the power controller in particular at 700V, while ensuring it delivers better operational efficiencies” commented Xavier Mestelan Pinon. Eric Apode added: “Once we have answered all the questions regarding 700V operation, we can go ahead and raise the voltage used on production models, to bring even greater efficiency and potentially longer driving ranges.” 

The future starts right here, with DS E-Tense

DS E-Tense is much more than a concept car, because it points the way to the DS future, in terms of design and technology. With its two electric motors developing 402hp to the rear wheels, this spectacularly beautiful coupé delivers torque of 516Nm from start-up and boasts a potential top speed of 155mph. 

Apart from possessing exceptional driving sensations, its lithium-ion battery provides a capability to travel a potential range distance of 167 miles and it is also perfectly suited to everyday motoring applications, as recently demonstrated. 

As well as bringing know-how in electric drive technology, and accelerating the development of simulation tools (within the R&D Department) that can be carried over to production models, DS involvement in Formula E racing provides a valuable learning experience guiding engineers to optimum design choices that can be rapidly applied onto DS production road vehicles. DS 7 CROSSBACK, the new SUV by DS, will from spring 2019 also be available in a new petrol-electric hybrid (PHEV) version: DS 7 CROSSBACK E-Tense.