CAPITAL DAY March 17th, 2015 - Groupe PSA
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CAPITAL DAY March 17th, 2015
• This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, PEUGEOT SA (“Company”)
shares.
• This presentation may contain forward-looking statements. Such forward-looking statements do not constitute
forecasts regarding the Company’s results or any other performance indicator, but rather trends or targets,
as the case may be. These statements are by their nature subject to risks and uncertainties as described
in the registration document filed with the French Autorité des Marchés Financiers (AMF). These statements
do not reflect future performance of the Company, which may materially differ.
• The Company does not undertake to provide updates of these statements.
• More comprehensive information about PSA PEUGEOT CITROËN may be obtained on group website
(www.psa-peugeot-citroen.com), under Regulated Information.
Welcome
Jean-Baptiste
de Chatillon
CFO and Member of the Managing
Board
Introduction
Driving the recovery plan
2%
2013
& Meanwhile…
-2,90%
Automotive division ROI related to revenues
Introduction
Project pool
Introduction
6
5% ROI
Today’s Capital Day Core model strategy Patrice Lucas Peugeot Brand Maxime Picat DS Brand Yves Bonnefont Citroen Brand Linda Jackson Core model strategy Patrice Lucas R&D Gilles Le Borgne Q&A with Carlos Tavares
Core Model Strategy
Patrice
Lucas
Executive
Vice-President,
Corporate Planning
& Programs
Core model strategy 1. Focused core model strategy addressing most profitable market segments 2. Rationalize platforms and programs portfolio 3. Enhance R&D and CAPEX efficiency
Implement a global core model strategy
Three different Brands to ensure PSA full market coverage
• Worldwide market segmentation*
PC Models
E/F 5 segments
D 5 segments
PSA core model strategy
C 6 segments = 23 segments is based on 26 models
by 2022
B 6 segments
CUV SUV PLS
Hatch Sedan
A 1 segment Estate MPV
* Internal sourceImplement a global core model strategy
Focus on profit
A global & profit oriented product offer Market and profit pools coverage
2013 Profit Pools coverage
Planned increase
Adressing key world-wide profit pools 46%
23%
Leveraging brands differenciation
2013 Market coverage
Global models meeting local requirements Mid term target
(2022) Planned increase
60%
7%
2013 Passenger Car Offers – China, Europe & Latin America
– excluding FengshenImplement a global core model strategy
Development process adapted to enhance cost sharing
Platforms and programs optimization Double streamlining
Global B-C Global C Global C CUV Global D Global D SUV - Less platforms
EMP 1 EMP 2 - Different projects’ development
2014 2022
18 From a project logic
One brand
One model and sister cars
7 To a program vision
5
Several brands
2
Several models for one brand
Platforms Projects / Programs Global governance
Passenger Car Offers - Excluding cooperation & Fengshen rangeMaxime Picat Peugeot Brand CEO
M A X I M E P I C AT
CAPITAL DAY - PEUGEOT BRAND
PEUGEOT, HIGH END GENERALIST BRAND TARGETING THE BEST COMPETITION
BRAND STRATEGIC AXES
1. DEVELOP PRODUCTS THAT REFLECT THE BRAND UPMARKET MOVE
2. IMPROVE RANGE EFFICIENCY AND INTERNATIONALIZATION
3. REDUCE NET PRICING GAP WITH MAIN COMPETITOR IN 2020
4. ROLL OUT EXCELLENCE ALL ALONG CUSTOMER JOURNEYCAPITAL DAY - PEUGEOT BRAND
THE BRAND 01 THE HERITAGE Since 1810, PEUGEOT has remained true to the high quality and inventive nature of French manufacturing. PEUGEOT’s DNA was forged in France's eastern industrial cradle, its visionary mobility line launched in 1885 with bicycles then cars whose style, reliability and creativity marked their time. 02 THE MISSION Faced with major mobility and environmental challenges, PEUGEOT is focusing all of its energy and resources into creating innovative mobility solutions, not only for today but for tomorrow, built around one core philosophy; the search for emotion. 03 THE PROMISE PEUGEOT is the only brand that combines German excellence with Latin emotion thanks to uncompromising quality, sharp design and an instinctive driving experience.
CAPITAL DAY - PEUGEOT BRAND
UP MARKET MOVE – WORLDWIDE PRODUCT FUNDAMENTALS
EXCELLENCE ALLURE EMOTION
LEAP IN QUALITY DESIGN WITH STRONG CHARACTER STIMULATING & ENHANCING
DRIVING EXPERIENCE
PERCIEVED QUALITY DESIGN INVENTIVE UPPER INNOVATIVE COCKPIT DRIVING
& DURABILITY IDENTITY VEHIICLE CONCEPTS VERSIONS & CONTROLS EXPERIENCE
INVENTIVITÉ
CONFIDENTIELQUALITY
Perceived Quality:
Target: Best Competitor for Interior/exterior
Valid for all segments
First application on 308 followed by New C-SUV
Long term Quality, material life time:
More stringent targets on visible « serious » defects detected by customers after 3 years
of use of the vehicle: IQA (Aspect) and IQF (Functional).
308 first results: outstanding 3 years ageing performance of materials above Golf VI
Noise Control, soundproofing:
Objective: 1st quartile of segment on noise items in multi-brand surveysQUALITY – UP MARKET MOVE
GERMANY -DAT 39% (+ 4 PTS VS PREVIOUS 308)
ITALY – QUATTRORUOTTE 39% (+10 PTS)
RESIDUAL
SPAIN – EUROTAX 47% ( +12 PTS)
VALUE
FRANCE – ARGUS 45% (+ 4 PTS)
UK – CAP 32% (+ 6 PTS)RANGE POSITIONING IN THE MARKET
FIRST DECILE: 80% OF SALES THROUGH HIGHEST DECILE COVERED
NO BRAND OFFER MAINSTREAM RANGE WITH UPPER VERSIONS
GT LINE / GT
Private range
ALLURE
VOLUME
ACTIVE
ACCESS
PRICEI-COCKPIT – A MAJOR DIFFERENCIATION ASSET
ERGONOMICS AND INTUITIVENESS TO SUPPORT AND ENHANCE PEUGEOT DRIVING EXPERIENCE
INNOVATIVE AND ATTRACTIVE AESTHETICS
COCKPIT I-COCKPIT PEUGEOT
3008 208 2008 308 New New
Cockpit & head-up Small steering wheel / Central display C-SUV D SEDANI-COCKPIT –CUSTOMER FEED BACK
NUMBER OF COUNTRIES IN EUROPE 5
WHERE PEUGEOT IS ABOVE SEGMENT
Ease of reading Instruments 5 5 4
Interior Styling 5 5 4
Appearance of dashboard 5 5 5CAPITAL DAY - PEUGEOT BRAND
CORE MODEL STRATEGY
Estate 508 SW
D
Sedan 508
7 seaters 5008
SUV 3008
Upper RCZ
Sedan Upper Ms 408 95% OF WORLDWIDE SALES
C 13 CORE MODELS IN 2014
Estate 308 SW
> 100% OF PROFIT
Hatch 308
Sedan Middle Ms 308 sedan
Sedan Lower 301
SUV 2008
B
Hatch 208
A Hatch 108CORE MODEL STRATEGY
PROFIT POOL COVERAGE
51%
44%
2013 2023CAPITAL DAY - PEUGEOT BRAND
PRICING – 3 MAIN LEVERS
SELL DISCOUNT CONTROL
AT A HIGHER PRICE
PRICE DEPRECIATION MONITORING
ENRICHED MIX OF SALE
SELL BETTER DEALER NV REMUNERATION
AND MORE TRAINING & COMMUNICATION
NV & UC COMMERCIAL POLICIES
IMPROVE USED CAR PRICING MANAGEMENT
RESIDUAL VALUE LIFE TIME RANGE OPTIMIZATIONNET PRICING - IN EUROPE, ON TRACK
2014 - RESULTS
LAUNCH PRICE = MAIN COMPETITOR
MIX TOP: 19% PERSO: 9%
108
2013 2014 2016 2020 LEVELS 3 & 3 +: 60% of ORDERS
0
2008
-3
1/3 NARROWED PRICE GAP IN A YEAR
-5.3 -4.7
RESIDUAL VALUE
-6.5 GERMAN –DAT = GAP REDUCED BY 2/3
308 UK- CAP = GAP REDUCED BY 7
3008 AVERAGE PRICE PAID IN 2014 = 2013
NEXT 3008 = 1sr CUSTOMER CHOICE IN CLINIC
3008 TEST
Net price positioning adjusted for content – gap in% vs key mainstream competitorCAPITAL DAY - PEUGEOT BRAND
ROLL OUT EXCELLENCE ALL ALONG CUSTOMER JOURNEY
OVERALL SATISFACTION "EXCELLENT" NETWORK PROGRAM
2017 OBJECTIVE = TOP 3 NEW VEHICLES OPERATIONAL STANDARD
CONDITIONS FOR A SUCCESSFUL HANDOVER
Insert the name of the dealership here
HANDOVER SHEET
HANDOVER SHEET
New PEUGEOT 508
Saloon, SW and RXH BlueHDi
New Peugeot 508
A delivery area Saloon, SW and RXH BlueHDi
Prerequisites
Heated, calm, clean, organised and correctly lit,
Which complies with the Marque’s standards: It is essential to present the vehicle with the following settings:
White tiled floor,
A blue wall with the image(s) + a message • Steering wheel in the high position and pushed back fully (to encourage the customer to
With an accessories presentation cabinet.
adjust the steering wheel),
A cover • Driver’s seat at the mid-height position,
• Forwards-backwards adjustment of the driver’s seat and seat back angle in the mid-
Clean and in good condition, Placed on the vehicle
In the Marque’s colours, “checked conform” to the way position,
Suited to the size of the vehicle to be systematic quality control
delivered, before handover. • Front and rear head restraints in the low position,
stored in a cabinet before and after use,
An identification label Handover steps
AFTER SALES
In A4 format (portrait or landscape), The handover begins once the vehicle’s cover has been
Conforming to the Marque’s graphic charter,
Placed on the covered vehicle or on a lectern,
removed.
Indicating at least the name of the dealership, the name of customer, Step 0 allow the customer to become familiar with their
the model/finition and the registration number.
vehicle by walking round it with them.
Handover sheets Step 0
Step 1 (5 min): getting into the vehicle.
The person in charge of the handover must: Step 2 (20 mins): familiarisation with the exterior
Have in his possession the current handover sheet of each
and interior of the vehicle (in stages ). 2
model of the range,
Strictly apply each step of the handover.
Step 3 (3 mins): adjustment of the driving
position. 4
A wallet of documents always given to the customers
Step 4 (45 mins): familiarisation with the 3
The record - ready to go, The service booklet, instruments and controls (by working through
The handbook, The personalised servicing schedule 1
the functions to be presented to the customer
Steps 1 to 4
from left to right).
Step 5 (20 mins): dynamic handover strongly recommended by the Marque, particularly if
the vehicle is fitted with one or more of the functions explained in this step.
Supervisor/Manager: Dealer Principal: Applied by: At the end of the handover, show the customer that they have a “Ready to go” sheet
summarising the key vehicle functions presented during the handover.
Date/Visa / /
Strictly confidential document reserved for internal use by the Peugeot network Strictly confidential document reserved for internal use by the Peugeot network 3 / 22
Strictly confidential document reserved for internal use by the Peugeot network
VEHICLE DELIVERY
NETWORK IDENTIFICATION LOYALTY OFFERS
EXTERIOR - 100% END OF 2015 INTERIOR - 100% END OF 2017
• FINANCE CONTRACTS
• MAINTENANCE CONTRACTS
• CONNECTED SERVICESNEW DIGITAL PLATFORM
SIMPLIFY OUR DIGITAL ECOSYSTEM FOR MORE EFFICIENCY
TO ACCELERATE 3 MAIN OBJECTIVES
ACQUIRE IMPROVE LEVERAGE
NEW PROSPECTS OUR CONVERSION CUSTOMER
RATE LOYALTY
NEW DIGITAL PEUGEOTCAPITAL DAY - PEUGEOT BRAND
PEUGEOT, ON TRACK TO MEET TARGETS
A CORE MODEL STRATEGY ALREADY OPERATIVE
A DYNAMIC AND LEVELIZED 5 YEAR LAUNCHING PLAN
SPEED UP PRICE GAP CLOSING VS MAIN COMPETITORYves Bonnefont DS Brand CEO
CAPITAL DAY March 17, 2015
‘Spirit’ reflects the existence of an attitude around DS. It's the dynamic expression of avant-garde,
the community spirit around it and the optimistic outlook of those who appreciate it.
‘DS’ clearly identifies our brand adding clarity to the crafted monogram.
‘Automobiles’ firmly positions DS in its category, whilst also alluding to our Parisian
origine and savoir-faire inspired approach to automotive.
The philosophy at the heart of the brand, ‘avant-garde’ reflects our forward-thinking approach
to the automotive segment and the products and services we offer.
As true to our past as it is to our future, this approach injects fresh perspective
and understanding of the evolving requirements of automotive customers.1/ DS, a car, a cult object which has played a substantial role in automotive history - 2/ The SM, heiress to DS, an object of fascination which took DS attributes to a new height - 3/ Paris, the birth place of all DS, city of luxury, fashion and refinement - 4/ The DS Monogram, sculpted like a jewel, a symbol of refinement and know-how – 5/ The DS Wings grille by which each DS is identifiable, affirming the brand strength - 6/ The DS pattern which connects DS to the universe of craftsmanship and luxury brands - 7/ The floating roof, a silhouette distinguishing DS since its origins – 8/ The watchstrap bracelet leather seats, an expression of DS know-how and refinement – 9/ The light signature, from the rotating headlights of DS 21 to the DS Led Vision technology of today - 10/ Two cult places: DS World Paris and DS World Shanghai, both showcases of the complete and pleasurable brand experience
DS PRODUCTS, CORE CUSTOMER BENEFITS
AVANT-GARDE DESIGN
EXPERIENTIAL TECHNOLOGY
DYNAMIC HYPER-COMFORT
REFINEMENT AND ATTENTION TO DETAILAVANT-GARDE DESIGN SENSUAL AND REMARKABLE STYLING EXTENDED RANGE OF PERSONALIZATION
EXPERIENTIAL TECHNOLOGIY
EFFICIENT POWERTRAINS
"MY DS, CONNECTED TO MY WORLD"
EXPERIENTIAL TECHNOLOGY FOR GREATER
DESIGN COMBINED WITH BEST FEATURESREFINEMENT AND ATTENTION TO DETAIL
MATERIAL REFINEMENT, KNOW-HOW IN THEIR IMPLEMENTATION
FAULTLESS QUALITYDYNAMIC HYPER-COMFORT
DRIVING BEHAVIOUR WELL BALANCED BETWEEN DYNAMISM AND SERENITY
"HYPER-COMFORT"5 STRATEGIC OBJECTIVES 1 BRAND PROFIT BRAND CONTRIBUTION 2 PRICING POWER PPP VS PEERS EUROPE/CHINA 3 INTERNATIONAL DEVELOPMENT DEVELOPMENT IN TARGETED CITIES 4 FOCUS ON TARGET GROUP MARKET SHARE AMONG TARGET CUSTOMER BASE 5 BRAND VALUE RESIDUAL VALUE VS PEERS
DS CORE MODEL STRATEGY
Strengthen DS as a brand
EUROPE
Reinforce DS products
Establish DS globally
International development With 5 next-generation products
China & World 3 new vehicles dedicated
to international growth
2014 - 2017 2018 - 2020DS CORE MODEL STRATEGY
7 Worldwide silhouettes, 2 Industrial basis
PROFIT POOL COVERAGE
15%
8%
TODAY 2023PRICING POWER
Pricing gap to premium target in Europe
DATA IN %
2013 2014 2016 2020
-3
-7
- 10
- 13.7 - 13.2
+ 0.5 pt
Europe G7INTERNATIONAL DEVELOPMENT
200 MEGA CITIES PLAN
DRUC 4 CITIES
Built-up business with selected KD
DEUR 60 CITIES Sales 2014: 900
Sales 2014: 86,000
DASI 31 CITIES
China: 3 DS models launched
DMOA 31 CITIES in one year at CAPSA plant
Focus on Maghreb, GCC, Turkey, RSA Sales 2014: 26,000
Sales 2014: 1,900
DINP 26 CITIES
DAML 19 CITIES Japan among priorities
Sales 2014: 1,500
Plan to launch DS in Mexico
Sales 2014: 1,200INTERNATIONAL DEVELOPMENT
DS IN CHINA
3 launches in 12 months: DS 5 - DS 5LS - DS 6
80 Stores in China in 2014, 100+ by end of 2015INTERNATIONAL DEVELOPMENT
NETWORK GROWTH
Independent DS Store DS Store adjacent to another brand
DS SalonLinda Jackson Citroën Brand CEO
LINDA JACKSON CITROËN CEO
CITROËN BRAND A UNIQUE A UNIQUE A UNIQUE HISTORY SPIRIT EXPERIENCE
PROMISE BE DIFFERENT, FEEL GOOD VALUES OPTIMISTIC – HUMAN – SMART
A COHERENT BRAND EXPERIENCE SERVICES PRODUCT CUSTOMER EXPERIENCE • Purchasing • Point of sale • Connected • Internet
BRAND STRATEGIC LINES WORLDWIDE BRAND POSITIONING CORE MODEL STRATEGY UNIQUE CITROËN CUSTOMER EXPERIENCE INCREASE OF OUR PRICING POWER
CITROËN PRODUCT MARKERS
OPTIMISTIC HUMAN SMART
PURE & OPTIMISTIC WELL-BEING USEFUL & INTELLIGENT
DESIGN IN BODY & MIND TECHNOLOGYPURE & OPTIMISTIC DESIGN
WELL-BEING OF BODY AND MIND
USEFUL AND INTELLIGENT TECHNOLOGIES
PRODUCT STRATEGIC LINES • Target: 7 vehicles, international and creative • Consistency with product markers and brand positioning • Smart profit-pool targeting • LCV: Confirm European Leadership with 3 models • Technology: Best in class CO2, electric vehicles, PHEV
CORE MODEL STRATEGY
EUROPE RANGE
GLOBAL
2013 2015 2017
RANGE
CHINA RANGECORE MODEL STRATEGY
PROFIT POOL (%) COVERAGE
43%
39%
2014 2023
Avg VOLUME / MODEL (‘000)
140
79 91
2014 2018 2023CITROËN PURCHASING SERVICES
FINANCING
+
SERVICING
+
ROADSIDE ASSISTANCE
+
COMPREHENSIVE INSURANCE
=
FIXED MONTHLY PAYMENTCITROËN CONNECTED SERVICES EMERGENCY CALL LINK MYCITROËN MIRROR SCREEN
CUSTOMER EXPERIENCE: CITROËN & YOU
AMBITION
TOP 3 CUSTOMER RECOMMENDATION
MEANS
• BRAND PROMISE
• CITROËN ADVISOR
• COACHINGA DIGITAL TRANSPARENCY TOOL
7000
YTD ONLINE REVIEWS
6000
FIRST Avg RESULTS
5000
4000
3000
2000
1000
0CITROËN PRICING POWER
“ Price is what you pay, CUSTOMER VALUE BASED PRICING
Value is what you get ” COST BASED PRICING
• Standard equipment based on what really counts
NET PRICE PAID BY CUSTOMER
• In line with good/mainstream competitors
• Move upmarket by trim, color and packaged options
BRAND PROFITABILITY
• Rigorous control on discount policy
• Communication
RESIDUAL VALUE
• Brand ExperienceBACK IN THE RACE PRICING POWER TARGETS
50 000
SALES IN 6 MONTHS
+ 25 AWARDS
50% OF UPPER TRIM LEVEL
2015:
launches in North-Africa ,
LATAM and ASEAN
CACTUSMPV EUROPEAN
LEADER
200 000
SALES SINCE LAUNCH
65% ON UPPER TRIM LEVEL
PICASSOON TRACK WITH OUR STRATEGIC LINES WORLDWIDE BRAND POSITIONING CORE MODEL STRATEGY UNIQUE CITROËN CUSTOMER EXPERIENCE INCREASE OF OUR PRICING POWER
THANK YOU
Patrice Lucas
Executive Vice-President,
Corporate Planning
& ProgramsImplement a global core model strategy
From a Regional to a Global range of products
• First global* model Peugeot 2008
Production Plant
Sales Regions
Mulhouse (since April 2013)
Wuhan
(since April 2014)
Porto Real
(launch in 2015)
Production since launch: 286,000 units
* Adapted , Industrialized & commercialized for all regionsCore model strategy
From project to program management
Program management increases
the synergies potential:
Shared R&D
Increased R&D efficiency by 10 to 20%
Capex reduction = c.a. 30%
Shared Capex
+ added benefits of increased volumes x 2 to 3
versus a std project development
Shared purchased partsImplement a global core model strategy
C-CUV Program = 4 Brands (Citroën, Peugeot, DS and Opel) and 5 models
China & Europe assembly / Worldwide salesImplement a global core model strategy
More efficient R&D and CAPEX
Improved efficiency
Maintain the Automotive Division’s
level at 7-8% of revenue
• Current R&D and CAPEX levels between 8%
and 10% of revenues for generalist OEMs Core model strategy €300m
12% +
10%
8% R&D Efficiency €300m
6%
4%
2%
0%
€600m*
Generalist PSA Automotive annual savings
OEMs division
* Cost efficiency p.aGilles
Le Borgne
Executive Vice-President,
R&DImplement a global core model strategy
More efficient R&D and CAPEX
Improved efficiency
300m€ R&D efficiency in 2015
Core model strategy 300m€
Core model PLM
Program management Strategy
16% Prototypes
28%
+ Structure
Partnerships organization 15%
300 m€ 11%
Internal productivity 16% Suppliers
R&D efficiency 14% validations
Regional
Sub-contracting €600m* optimization
Engineering
annual savings Subcontracting
* Cost efficiency p.aCurrent efficient technologies
CO2 European leader in 2014: petrol & diesel
Diesel Engines
79g 82g 28
44
Of CO2
Of CO2
Best in
& Petrol Engines
Class vehicles
82g
Of CO2
97g
Of CO2 16
94g
Of CO2Increase and convergence of environmental regulations
A constraint and an opportunity
• CO2 • Pollutants
Euro 6.2 (2017), Euro 7 (>2020); Beijing 6 phase1 (2017), phase2
CAFE, CAFC…
(2020)…
Incentives
Bonus-Malus New Energy Vehicles Inovar AutoConvergence of models and platforms
Core models, core technologies
Powertrain Gasoline PHEV EV New generation
2020 on EMP2 2019 on EMP1 of gearboxes
Optimized gasoline Gasoline Plug-In Hybrid EV technologies deployed 6-speed manual
and diesel engines for upper market models on compact models 8-speed automaticConclusion Jean-Baptiste de Chatillon CFO and Member of the Managing Board
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