To take a company that has underperformed - some might say failed - for at least 15 years, and which loses around £3m a day at present, and make it profitable within three and a bit years sounds remarkable.

But the detractors would do well to remember what the PSA Group has achieved before. 

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When Carlos Tavares took the helm at Peugeot, Citroën and DS back in 2013, the company was on its knees, selling off everything it could lay its hands on just to stay afloat, from property in Paris to its historic fleet of cars to a large proportion of itself. Its operating margin was -2.8%, which in simple terms means it was losing billions.

In the first six months of this year, that same company had an operating margin of 7.3%, among the very best for a mainstream manufacturer and the envy of even Volkswagen and Skoda, which exist in a far larger universe. So yes, unequivocally, it can be done. 

But you didn’t have to read too far between the lines to understand that Tavares’s team of newly empowered management needs to move fast and without obstacles. Be in no doubt that for all today’s platitudes, sweeping, painful change is on the way.