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PSA Peugeot Citroen Presents Profit Goal for Recovery Plan


French automaker PSA Peugeot Citroen relies on its new recovery plan to reach a 2% operating margin in the automotive division in 2018. Chief Executive Carlos Tavares said that the recovery strategy implies cutting costs and reducing the number of models in order to reach profitability from a loss of 1.042 billion euro in 2013, or 2.9% of sales. "We are going ...
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Report – BMW and PSA to end engine partnership
According to French economic website lesechos.fr, citing a source close to the German carmaker, BMW and Peugeot Citroen could decide against extending their partnership on small petrol engines after it ...
Peugeot gets temporary EU approval for French state aid
Peugeot's financing arm, Banque PSA Finance, was granted temporary EU approval for 1.2 billion euros of bonds backed by the French state. However, the carmaker now must justify the state-aid package ...
French prime minister says Peugeot stake not on the agenda
France's Prime Minister said the state has no current plan to buy a stake in ailing carmaker PSA Peugeot Citroen. The comments came a day after Peugeot took a 4.1 billion ...
Report: Peugeot expected to announce multi-billion euro writedown
PSA Peugeot Citroen is set to announce a multi-billion euro writedown on its non-performing assets, according to a report from Reuters citing two people familiar with the situation. The French carmaker ...
PSA Peugeot Citroen transfers half of Aulnay plant’s workforce to Poissy
PSA Peugeot Citroen convinced its employees to close the Aulnay plant earlier than scheduled, by moving half of the workforce to the Poissy plant. The French carmaker's restructuring measures have divided ...
Workers disrupt production at PSA Peugeot Citroen Aulnay plant
Around 200 French workers from the Aulnay plant north of Paris are disrupting production, protesting layoffs and the planned closure of the facility. France's largest automaker has announced it will cut ...
Peugeot unveils battery-free hybrid technology
PSA Peugeot Citroen on Tuesday unveiled a hybrid vehicle concept that combines a conventional engine with compressed nitrogen propulsion. The French carmaker says the pioneering solution would halve the cost of ...
PSA Peugeot Citroen shares rise on rumours about Faurecia sale
PSA Peugeot Citroen shares rose sharply on Monday on rumours the automaker could sell its Faurecia auto parts maker to reduce debt. Peugeot shares rose as much as 13 percent after ...
Talks of a tie-up between Peugeot and Opel reportedly dropped
General Motors and PSA Peugeot Citroen have halted talks on further integration amid doubts about the French carmaker's worsening finances and government-backed bailout. According to people familiar with the matter quoted ...

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