PSA acquires minority share in Autobiz
PSA Group has acquired a minority share in Autobiz. The move seals the long-standing alliance between the car manufacturing group and the online remarketing specialist, as evidenced by the web portals built by Autobiz for Peugeot and Citroën in several European countries. It also confirms the manufacturer's ambitions in the remarketing business.
The bonding of both companies should improve their joint operations, especially in Asian and South American markets. However, both PSA and Autobiz will continue to operate as separate entities.
PSA, which markets the brands Peugeot, Citroën and DS, is the leading manufacturer in France, the second in Europe after Volkswagen Group, and seventh in the world. It is currently in the running to take over Opel from General Motors.
The Group puts great emphasis on innovation, and on developing a vision on the future of mobility, with special attention to energy-efficient small cars.
Two-thirds of Group sales are in Europe, but PSA is also strong in China and Southeast Asia in general, where it has four factories and hopes to sell 1.5 million cars by 2020.
Autobiz, headquartered in Suresnes near Paris, has a total of 50 employees across France, Germany, Spain and Italy.
"Strengthening our partnership with Autobiz is part of our development strategy in the used-car market, which will particularly rely on the Big Data expertise developed by Autobiz," says Marc Lechantre, Director of the Used-Vehicle Business Unit at PSA.