PSA has struck a deal with five French unions, representing 76 percent of its workforce, over severance packages that the automaker will offer employees as it seeks to reduce its headcount in the country by 17 percent.
BMW's new X4 model will bring a new type of customer to the brand, sales chief Ian Robertson said. The X4 will launch next year as a sportier version of the X3 SUV with a lower roofline and coupe styling. It follows BMW's launch of the coupe-styled X6 as a sportier alternative to the X5.
Bentley may build a planned SUV in Volkswagen's factory in Slovakia. The brand's CEO Wolfgang Schreiber said VW could give a green light for production in the next few weeks and it may opt to build the SUV outside the UK.
Ford, General Motors and Fiat were the automakers worst hit as European passenger car registrations fell 10 percent last month to their lowest February level for 23 years. The region's deepening recession continued to deter customers from buying cars despite steep discounting.
BMW forecast unchanged 2013 pretax profit as European auto sales drop and the automaker increases spending to bring out 25 new models in the next two years. Pretax profit climbed 6 percent to 7.82 billion euros ($10.1 billion) in 2012.
BMW says its i3 EV, which will begin sales in Europe, the United States and China this year, can cover up to 220 kilometers (136 miles) on a single battery charge, which can be extended up to 350 kilometers using an optional range extender.
Volvo is said to have won the approval of China's main industry planner to begin making vehicles in the country. The automaker, which is owned by China's Geely, has set itself the target of boosting local sales to 200,000 by 2020 from 41,989 last year.