Groupe PSA and Inchcape sign a distribution agreement in Australia
The brands have suffered poor sales in recent years despite a raft of new models and upgraded tech. Sime Darby has held the brands for the last few years and relinquished the brands in a deal signed today.
Following the long term contract signed yesterday, which will become effective on June 1 2017, Groupe PSA announces that the UK-based Distribution Group Inchcape will take over the distribution rights of Peugeot and Citroën vehicles in Australia.
Inchcape’s first major launch for Groupe PSA will be that of the new Peugeot 3008 SUV which is widely acclaimed and won the prestigious 2017 European Car of the Year award.
Emmanuel Delay, Executive Vice President and Head of the India & Pacific region said: “We are fully committed to grow the presence of the Peugeot and Citroën brands in Australia.
I am delighted to form this partnership with Inchcape Group, which brings distribution excellence to our brands and has a strong track record in Australia. The timing is excellent as we are launching a strong product offensive. We are confident that, together, we will better meet the expectations of Australian consumers and improve our performance in the region.”
Inchcape plc CEO Stefan Bomhard said “The Group is excited about this opportunity to represent Groupe PSA in the Australian market.”
“Groupe PSA has performed exceptionally in the past few years and their product pipeline is exciting, relevant and offers great growth potential in the Australian market,” he said.
Inchcape is a leading global premium automotive group, operating in 29 markets with a portfolio of the world’s leading car brands in the fast-growing luxury and premium segments. Inchcape has diversified multi-channel revenue streams including sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 16,000 people.
In Australasia, Inchcape operates the Subaru Australia and Subaru New Zealand distribution businesses; Trivett retail, which represents 14 OEM partners; and the Autonexus parts and vehicle logistics business. Inchcape employs more than 1500 people in these operations.
Inchcape will not be discussing its future plans for the brands until after the June 1 changeover.