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PSA Peugeot Citroen is to launch a 1.0-tonne pick-up truck under the "Push to Pass" plan that outlines the group's strategy for the five-year period from 2016-2021.
The scheme, which PSA claimed is based on "frugal R&D expenditure and rigorous control over production costs as well as fixed costs", targets revenue growth of 15% by 2021 compared to 2015 alongside an operating profit margin of 6%.
As part of "a product blitz" covering eight light commercial vehicles and 26 passenger cars, PSA will become the latest newcomer to launch a pick-up following the announcements by Mercedes, Fiat Professional and Renault that they are to enter the market.
Peugeot and Citroen are to launch their new generation medium vans, the Expert and Dispatch, in September - the models are built at the PSA plant in Sevelnord, northern France, which is also producing Toyota's version, the Proace.
PSA said it would wring more value out of its existing customer base under "Push to Pass", as well as growing its digital platforms and expanding multi-brand offers in aftersales, leasing, used vehicles, mobility services and fleet management.
PSA chairman Carlos Tavares, said: "Based on our financial reconstruction, we will launch a global product and technology offensive. Now more agile, we are ready to shift paradigms by anticipating changes in [vehicle] usage patterns. Our digital transformation will make the PSA Group a company connected to its customers. With "Push to Pass", we will ensure PSA profitable organic growth."
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