PSA Aims to Hike Used-Car Sales by One-Third

PSA Group’s used-car business hopes to boost its unit sales to 800,000 vehicles by 2021 from and expected 600,000 this year.

Marc Lechantre, director of the 2-year-old used-vehicle operation, says the unit expects to quadruple its profits over the same period. The initiative is part of PSA’s “Push to Pass” growth strategy.

PSA describes the used-car market as a good way to attract more customers to its new-car business. The company sold 480,000 second-hand cars in 2017.

Currently only about 6% of such sales occur outside France. Lechante aims to increase that ratio to about 25%, in part through significant growth in Brazil and China.