PSA Group is expected to consolidate its media business into a single group as it seeks a more consistent marketing approach.
The French car company currently uses Havas and OMD for media planning and buying. Both agencies handle about ten markets each. Havas looks after France, Spain, Latin America and other markets. OMD oversees the UK, Germany and Italy.
It is thought that PSA has approached all the big agency groups, including WPP and Publicis Groupe.
PSA, which also owns the DS Automobiles brand, began the review before it announced this month that
it had bought the European Vauxhall/Opel business from General Motors.
The group sold three million vehicles and had €54bn (£47bn) in revenues last year.
Europe’s second-biggest car-maker aims to overtake Volkswagen Group and has plans for each of its brands to launch a new model every year.
PSA has also said it is targeting further efficiencies after making €1bn of cost savings in the past five years.
A spokesman for PSA confirmed the review.