Groupe PSA Acquires a Controlling Interest in Jian Xin, a Chinese Automotive Spare Parts Distributor
09 February 2018 - 7:32PM
Business Wire
Regulatory News:
With this acquisition, Groupe PSA (Paris:UG) will be able to
accelerate the rollout of its aftermarket offering in China by
rapidly establishing its position in the market, which represents
130 million vehicles.
Created more than 20 years ago, Jian Xin is currently the
leading spare parts distributor in the Shanghai region. Every year,
it sells more than 5 million parts sourced from major original
equipment manufacturers.
By obtaining control of Jian Xin, Groupe PSA will be able to
establish a position in the independent aftermarket (IAM) in China.
It will gain access to a competitive and efficient
supply chain distribution system offering delivery times and
frequencies that meet the highest market standards. Its objective
is to accelerate growth in sales of multi-brand parts, including in
its new Eurorepar range, which Groupe PSA developed specifically
for the Chinese market.
The acquisition also represents an opportunity for the Group to
expand its network of multi-brand Euro Repar Car Service garages,
as most Jian Xin customers are independent auto repair shops, many
of which are likely to join the network. Following a recruitment
fair in Shanghai in October (attended by Christophe Musy, Executive
Vice President, PSA Aftermarket), more than 23 auto repair
shops have already joined the network.
“Our multi-brand aftermarket strategy, one of the pillars of the
Push to Pass strategic plan, aims to meet the needs of all
after-sales customers around the world, regardless of their
purchasing power and the make or age of their vehicle,” said
Christophe Musy. “China will soon be the world’s biggest
aftermarket, and we have set ourselves very high ambitions there,
which is why we’re already securing strong market positions.”
About Groupe PSA
The Groupe PSA designs unique automotive experiences and
delivers mobility solutions to meet all client expectations. The
Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall,
as well as a wide array of mobility and smart services under its
Free2Move brand, aiming to become a great carmaker and the
preferred mobility provider. It is an early innovator in the field
of autonomous and connected cars. It is also involved in financing
activities through Banque PSA Finance and in automotive equipment
via Faurecia. Find out more at groupe-psa.com/en.
Media library: medialibrary.groupe-psa.com / @GroupePSA
Communications Division - www.groupe-psa.com/en
- +33 1 40 66 42 00 - @GroupePSA
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180209005196/en/
Groupe PSAPresse:Cécile Damide :
06.77.14.53.75orKarine Douet : 06.61.64.03.83