PSA posts 2009 loss, sees positive first half

PSA/Peugeot-Citroen saw losses widen in 2009 and said cost cuts would help it weather tough trading conditions likely to persist through 2010, declining to give a forecast beyond mid-year. CEO Philippe Varin said the group expected the European market to decline 9 percent this year, but that efforts to drive sales, cut costs and improve capacity utilization as well as new model launches would benefit PSA. Read More » Germany, Spain cautious on Opel's bid for state aid
European countries with Opel factories reacted cautiously to the carmaker's request for 2.7 billion euros ($3.7 billion) in loans or loan guarantees to help it cut nearly ...

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