CitroenPeugeot heirs profit from nursing homes as carmaker slidesSept. 22, 2012 06:01 CET  Signs that the Peugeot family is wavering in its commitment to struggling PSA/Peugeot-Citroen complicates the automaker's efforts to reverse deepening losses. The family is getting better returns from alternative investments.... Read More »
German premium brands squeeze volume rivals in Europe, but will the rise last?Sept. 20, 2012 06:01 CET  Germany's premium brands are defying Europe's economic crisis and increasing their vehicle sales in the region to such an extent that they are catching -- or passing -- sales of struggling volume brands.... Read More »
Peugeot dropped from CAC 40 as value dwindlesSept. 7, 2012 09:49 CET  PSA/Peugeot-Citroen will be removed from France's leading stock index after its shares declined more than 60 percent in the last 12 months.... Read More »
French government to probe PSA's job cutsAug. 10, 2012 09:48 CET  The French government has appointed a special advisor to probe PSA's plans to eliminate 8,000 jobs and close a car plant in France. The probe will determine whether the government believes PSA's restructuring plan is necessary and whether the job cuts can be avoided.... Read More »
Toyota wants car sales of 1 million, profit in EuropeAug. 9, 2012 06:01 CET  From 2005 to 2007, Toyota consistently sold more than 1 million cars a year in the 56-countries that make up its European market. The problem is that it wasn't making any money. After some rough times that included last year's natural disasters in Japan and Thailand, Toyota is determined to boost European sales above the 1-million mark again within two to three years – and do so profitably. The man pushing Toyota toward these goals is European CEO Didier Leroy.... Read More »
Mitsubishi halts production of electric cars for PSAAug. 8, 2012 14:15 CET  Mitsubishi Motors has halted production of the Citroen C-Zero and Peugeot iOn electric cars for PSA because of slow sales. The two EVs are rebadged versions of the Mitsubishi i-MiEV and are built at the Japanese automaker's plant in Mizushima, Japan.... Read More »
PSA cut by 3 main ratings services due to cash burnJuly 26, 2012 09:34 CET PSA was lowered to two levels below investment grade by all three main rating services over the automotive division's widening losses and continued cash burn.... Read More »
NICK GIBBS Bo Andersson, Patrick Pelata and other Opel CEO possibilities 12:01 am U.S. ET | July 25, 2012  So who's going to be the next head of GM's troubled Opel/Vauxhall? The list of candidates should include ex-GM procurement boss Bo Andersson, former Renault No. 2 Patrick Pelata and Jean-Marc Gales, who was second in command at PSA.... Read More »
NICK GIBBS Bo Andersson, Patrick Pelata and other Opel CEO possibilities 12:01 am U.S. ET | July 25, 2012  So who's going to be the next head of GM's troubled Opel/Vauxhall? The list of candidates should include ex-GM procurement boss Bo Andersson, former Renault No. 2 Patrick Pelata and Jean-Marc Gales, who was second in command at PSA.... Read More »
Q2 ANE/PWC SHAREHOLDER VALUE INDEX Carmakers, suppliers hit by big declines in shareholder valueJuly 25, 2012 06:01 CET  Any hope that this year's robust first-quarter recovery in shareholder value for Europe's automakers and parts suppliers would be extended evaporated in the second quarter. Automakers saw their average value, as measured by the Automotive News Europe/PricewaterhouseCoopers Transaction Services Shareholder Value Index, fall 12.0 percent. This followed an exceptional 27.3 percent gain in Q1. Partsmakers experienced a similar decline, relinquishing 7.... Read More »
PSA's problems grow while VW's profits soarJuly 24, 2012 08:19 CET When PSA reports earnings tomorrow, it's likely to show deepening losses as European new-car sales plunge. The decline will be magnified the following day when VW Group is expected to post record profits, the result of years of expansion outside the region and investments in Audi.... Read More »
PSA to make vans for Toyota in EuropeJuly 23, 2012 10:34 CET  PSA and Toyota signed an agreement for the French carmaker to supply light commercial vans to the Japanese auto manufacturer to sell under its own brand in Europe. PSA will provide medium-sized vans from a plant in Lieu Saint-Amand, France, starting in the second quarter of 2013.... Read More »
DOUGLAS A. BOLDUC VW Group has rivals by the throat – don't expect any mercy 12:01 am U.S. ET | July 23, 2012  How has VW Group been able to boost its western European market share to 23.8 percent after five months this year from 18.1 percent in 2004? Rival automakers and market watchers say the increase has been fueled by massive Chinese profits.... Read More »
French minister said to want PSA CEO Varin to keep job, revise planJuly 23, 2012 09:19 CET  French Industry Minister Arnaud Montebourg wants PSA CEO Philippe Varin to remain at the helm of the carmaker and to rework a plan for its revival. Montebourg told Varin of his demands when they met for two hours last week in Paris to discuss PSA's plan to shut a French factory, a government official said.... Read More »
Volkswagen wants Champs-Elysees storefrontJuly 22, 2012 14:56 CET  VW Group is negotiating to open a store on France's most famous shopping street in the storefront currently occupied by record-seller Virgin, said VW spokeswoman Leslie Peltier. It is part of the German company's increased challenge of Renault and Peugeot on their home turf.... Read More »
French industry minister to quiz Peugeot familyJuly 17, 2012 18:46 CET French Industry Minister Arnauld Montebourg plans to summon members of the Peugeot family to explain why PSA/Peugeot-Citroen had continued to pay dividends even as it was facing mounting difficulties, he told parliament on Tuesday. PSA said last week that it would cut 8,000 jobs in France and close an assembly plant to stem operating losses of 200 million euros a month.... Read More »
PSA's Varin sees European rivals cutting capacity, paper reportsJuly 17, 2012 13:55 CET  PSA CEO Philippe Varin said he "would not be surprised" to see other automakers cut European capacity in the wake of his decision to close a plant near Paris, French newspaper Le Monde reported on Tuesday.... Read More »
PSA plant closure to save 108 million euros, report saysJuly 17, 2012 07:46 CET  The closure of PSA's factory in Aulnay, France, will reduce the automaker's fixed costs by 108 million euros ($132 million), Le Figaro reported, citing company documents. PSA sparked angry reactions from the French government and unions last week after announcing plans to close the plant in 2014.... Read More »
PSA has 51% chance of debt default, credit swaps showJuly 16, 2012 18:04 CET PSA's bond-insurance costs surged to a record, trading as if the French automaker has a 51 percent chance of defaulting as it cuts thousands of jobs and closes a plant in its home market. Credit-default swaps on the carmaker's debt jumped 50 basis points to an all-time high of 800 basis points in London.... Read More »
French seek solutions to soften PSA job cut planJuly 15, 2012 12:34 CET French Finance Minister Pierre Moscovici said the government is "looking for solutions" to help prop up car sales and soften PSA's decision to slash jobs and close a factory near Paris.... Read More »
French president says PSA job cut plan is not acceptableJuly 14, 2012 10:34 CET  President Francois Hollande said PSA's decision to close a factory and cut an additional 8,000 jobs is unacceptable and that he will lean on Europe's second-biggest carmaker to renegotiate the plan.... Read More »
LUCA CIFERRI Why retired Ford exec Lewis Booth could be Europe's 'car czar' 12:01 am U.S. ET | July 13, 2012  Europe needs a "car czar" to solve its problems and Lewis Booth is the right man for the job.... Read More »
LUCA CIFERRI New title for Lewis Booth: Europe 'car czar' 12:01 am U.S. ET | July 12, 2012  Europe needs a "car czar" to solve its problems and Lewis Booth is the right man for the job.... Read More »
PSA faces heavy criticism over closure of Aulnay car plant in FranceJuly 12, 2012 09:16 CET  PSA faced mounting criticism in France today after the company said it would close its Aulnay car plant near Paris as the automaker struggles with mounting losses at its core automotive division.... Read More »
Daimler profit warning looms; PSA's woes don't make sense, analyst saysJuly 11, 2012 14:00 CET Daimler is “moments away from a profit warning” and things should not be as bad as they are at PSA. Those were some of the views shared by Bernstein Research analyst Max Warburton during his presentation at the Automotive News Europe Congress.... Read More »
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