France’s PSA Group will return to the U.S., but not just yet.
CEO Carlos Tavares said PSA will return to the U.S. with its Peugeot brand, and hopes this can start in 2026. PSA also has the DS premium brand, mass-market Citroen, Opel and Vauxhall brands.
Peugeot left the U.S. market in 1991, when it sold 3,555 cars, according to carsalesbase.com. Sales peaked in 1984 at just over 20,000. Readers of a certain age will remember TV detective ‘Columbo’, played by the late Peter Falk, driving his 1959 Peugeot 403 convertible.
PSA has been testing the water in the U.S. with a car-sharing initiative. It launched the Free2Move app in Seattle in 2017.
Tavares made his announcement after revealing PSA recurring operating income jumped 43% to 5.69 billion euros ($6.46 billion) in 2018, for a a 7.7% profit margin, helped by its acquisition of Opel-Vauxhall. Sales jumped nearly 20% to 74 billion euros ($84 billion).