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The Case of Fiat and PSA in Multi Purpose Vehicles

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The Case of Fiat and PSA in Multi Purpose Vehicles European ManagementJournal Vol. 15, No. 1, pp. 35-44, 1997 ~ Pergamon Copyright © 1997 ElsevierScience Ltd Printed in Great Britain. All rights reserved S0263-23 73(96)00072-2 0263-2373/97 $17.00+0.00 Co-operation in a Niche Market: The Case of Fiat and PSA in Multi Purpose Vehicles DOMINIQUE JOLLY, Professor and Head of Research, Groupe ESC Grenoble, France~ Stimulated by the success of Renault in Europe and 1988, they decided to join forces in order to enter into Chrysler in North America, PSA and Fiat decided to the emerging multi purpose vehicle (MPV) market. Six enter the emerging multi purpose vehicle market by years later, after jointly committing 5 billion francs (US forming an alliance to design, develop and $1 billion) in the design, development and testing of a manufacture an entirely new vehicle. completely new MPV model and investing together 6 billion francs (US $1.2 billion) in an entirely new factory The study of this case shows that the narrowness of dedicated to this vehicle, the two partners started to this segment combined with a growing entry cost penetrate the segment. However, co-operation ends at reduce the possibility of autonomous moves. As a the factory's door and the partners go back to consequence, the alliance has mainly been designed competition at the commercialisation stage. In Europe, for sharing investments and risks, and for gaining auto-makers usually co-operate on specific sub-systems, economies of scale in a joint plant. As such, it offers i.e. engine, gear-box, even power-trains or platforms, but a typical example of a scale alliance. However, we rarely on the whole vehicle (Henault, 1996). The stress that those benefits are counterbalanced by the magnitude of the deal, the lack of experience of the fact that when the allies go back to competition for two partners in the MPV field (no more than technical commercialising the vehicles in their respective scanning) and the profiles of the two allies (private distribution networks, they offer quite similar companies where the equity is mainly held by families) products. It shows how far scale alliances are con- make the move remarkable. straining (for example, reducing industrial diversity) and reduce the span of differentiation. The objective of this paper is to use the PSA-Fiat case for drawing lessons with respect to alliance management. The two partners agreed to entrust PSA with the The study is based on in-depth interviews with general day-to-day management of the alliance. As Fiat has managers at PSA and Fiat, industry experts 2 and an similar responsibility for a previous ongoing extensive business and specialist press review. Some alliance with PSA in light trucks, the new deal in well-documented cases have also been used for multi purpose vehicles allowed the two partners to comparison. Our analysis allows us to infer four lessons balance their respective powers and to create mutual that will be developed in the text: dependence between themselves. This organisa- tional form demonstrates how it is possible to 1. the decision of PSA and Fiat to co-operate has been solve classical problems in alliance management, influenced largely by the uncertainties resulting from that is, to limit the probability of opportunistic the small size of the emerging MPV segment in behaviours. This case also shows that dedicating the Europe and the growing cost of entry in this new management of the alliance to one partner notably field; prevents the partners from learning from each other. 2. this deal offers a typical example of a scale alliance Copyright © 1997 Elsevier Science Ltd (according to the definitions usually used in the inter- firm alliance literature), where most decisions have PSA and Fiat are two European car manufacturers each been constrained by this objective; producing more than two million vehicles per year. In 3. benefiting from scale effects at the development and European ManagementJournalVo115 No 1 February 1997 3.5 CO-OPERATION IN A NICHE MARKET the manufacturing stages is nevertheless counter- are now offered on the North American market. The balanced by a weak differentiation between products total market now exceeds one million vehicles per year distributed through four distribution networks under (about 10 per cent of the car market). four different brand names; 4. the allies have found a very interesting way to preclude opportunistic behaviours (which are a A Relatively Narrow Segment in Europe typical problem in alliance management) but which with a Growing Entry Cost do not allow one ally to learn from the other. The text will first cast a light on the life cycle of the The conjunction of these two innovations leads to MPV MPV segment. We will see that the birth phase of the cars showing the following feature: a modular passenger MPV has been driven both by Chrysler in North cell with a large capacity for people (up to 7 or 8 seats) America and by Matra-Renault in Europe. These two and/or luggage, tools or leisure equipment. This innovative pioneers largely contributed to the definition definition positions the vehicle between the van and of this new vehicle concept and took notable advantage the private car (sedan type). Those vehicles increasingly tend to adopt an unbroken body (usually egg-shaped) of their advance. The growth phase has been sustained from the radiator grill to the rear window. by a flow of new entrants -- once the concept gained recognition -- attracted by the higher growth rate of this segment (compared to the traditional segments of At the first introduction of the MPV concept, few car the automobile industry). All these newcomers modified manufacturers were confident in its development. The the environmental conditions in the market. Demand has uncertainty was more related to the level of demand (in been stimulated by the increasing range of products view of the newness of the concept) than to offered. Simultaneously, pricing is becoming a much technological considerations. It was especially true for more serious issue. PSA and Fiat. At the beginning of the 1980s, PSA -- which was losing money -- even turned down the offer PSA and Fiat clearly belong to the second wave of auto- of Matra-Automobiles to form an alliance on its MPV makers arriving at the growth stage of the product life project (and preferred to invest in a smaller car of its own cycle. They reached the market of MPVs ten years later -- the 205). than Matra-Renault. We will stress that the entry cost at this stage, in a segment that stays as a niche market, is a strong incentive to establish co-operation, that is to Arrival of New Entrants spread substantial investments. As the success of Chrysler with its mini-van in North America and Renault with its Espace in Europe became more and more manifest, car manufacturers absent from Emergence of the MPV Concept the segment began to realise that this absence caused a Chrysler is generally recognised to have launched this real lack in their product portfolio compared to other kind of vehicle at the beginning of the 1980s. At that competitors. PSA and Fiat, in particular, were surprised time, in the context of serious troubles in the North by the success of their competitors with these kinds of American car manufacturing industry, but also in the products. company itself, Chrysler had probably been stimulated for innovation. Launched in 1983 on the US market at a Since the birth of the MPV concept, the North American price close to that of station wagons, its mini-van has market has shown the largest mini-van volumes in the achieved strong commercial success. 4 It is that very world. At the end of the 1980s, mini-van sales grew by success that has surprisingly allowed the company to 15 per cent per year; they even doubled between 1990 recover. At its origin, the mini-van is no more than a van and 1993. The success of Chrysler revealed the (i.e. a utility vehicle) that has been shortened and where attractiveness of the segment. No fewer than 20 models 3 windows and seats have been installed -- as illustrated in Figure I. But, the structure of the vehicle stays that of a van: inflexible rear axle, leaf-spring suspension. private cars MPV van (sedan type) In Europe, the MPV concept is usually associated with the Matra-Renault Espace. The concept originated in the car division of the Matra Group at times where this subsidiary was close to bankruptcy. Since its launch in CHRYSLER MINI-VAN (1983) 1984, the car has mainly been r~anufactured by Matra- Automobiles,5 but distributed and commercialised by Renault. As the experience of Matra-Automobiles is MATRA-RENAULT ESPACE(1984~ rooted in the design of sports and recreational cars (produced at very low volumes), it is not surprising that the MPV it designed is closer to sedan type cars than to Figure 1 The MPV Concept vans (see Figure 1). Since its birth, the technological 36 European ManagementJournalVot 15 No 1 February 1997 CO-OPERATION IN A NICHE MARKET MPVs registrations I Europe (1984-1995) 200000 180000 160000 140000 i [] Ford Galaxy / VW Sharan 120000 ; • Peugeot / Citroen / Fiat / Lancia Q Nissan • Mitsubishi Space Wagon 100000 [] Toyota Previa volume [] Pontiac Trans Sport 80000 • Chrysler Voyager : Q Renault Espace 60000 40000 20000 0 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 Figure 2 An increasing Number of Competitors content of the Espace has been high: body made of Changing the Rules composite material (derived from the air and space division of Matra), helical suspension spring, complete modularity of the internal space.
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