Peugeot to reduce model lineup

|About: Peugeot S.A. ADR (PEUGY)|By:, SA News Editor

Peugeot (PEUGY) plans to cut the number of models it sells in half in a bid to improve margins.

CEO Carlos Tavares thinks the French automaker can improve its operating margin to 2% by 2018 and as high as 5% sometime between 2019 and 2023.

Despite the sharp cut in models, Peugeot still plans to grow aggressively in China with the help of partner Dongfeng Motor.