French automaker Peugeot’s joint venture in China with Dongfeng Motor Group stated on Wednesday it had resumed car production at its plant in Wuhan city. Wuhan was the epicenter of China’s coronavirus outbreak. The joint venture is also making vehicles from two other manufacturing bases in Chengdu and Xiangyang. A total of 81,218 cases of […]
Peugeot
Renault, PSA can benefit from coronavirus measures, says French ministry
French automakers PSA and Renault are entitled to take advantage from all measures put in place to combat the economic impact of the coronavirus outbreak, France’s Finance Ministry informed Reuters on Wednesday. Renault chairman Jean-Dominique Senard and Finance Minister Bruno Le Maire have together evaluated the prospects of the auto industry and agreed to continue […]
PSA closes European factories because of the spread of coronavirus
French automaker PSA stated on Monday the company will shut down its European factories until March 27 because of the spread of coronavirus outbreak. “The chairman of the executive board with the members of the crisis unit decided …on the closure of the vehicle production sites,” PSA stated. The move comes amidst the on-going merger […]
Peugeot CEO Tavares says Fiat needs to review China strategy
Peugeot CEO Carlos Tavares stated on Friday PSA and Fiat Chrysler (FCA) will have to evaluate their strategy in China in order to increase sales after the closing of the merger between the two groups. PSA and FCA are hoping to finalize a $50 billion merger in early 2021 that would establish the fourth-biggest automaker […]
Peugeot merger talks progressing well, says CEO Michael Manley
Fiat Chrysler’s CEO Michael Manley stated on Wednesday that merger talks with Peugeot owner PSA to form the world’s No. 4 automaker are progressing well and he hopes to have a deal completed under 12-14 months. Discussing with Reuters on the sidelines of an industry meeting, Manley said he doesn’t expect any major hindrance that […]
PSA Group 2019 sales drop 10% after record 2018
French automaker PSA Group stated on Thursday global sales dropped 10% last year to 3.49 million units, compared with a record 3.88 million in 2018, as it had a hard time from decreasing volumes in China, the Middle East, and Africa. In its European home market, Paris-based PSA’s sales refused by 2.5% in 2019 to […]
Peugeot family wants to quickly increase PSA-Fiat Chrysler stake
The Peugeot family, which is set to own a 6.2% stake in the new automaker resulting from PSA and Fiat Chrysler’s merger, aims to boost its holding as soon as possible, a representative stated in an interview. PSA and Fiat Chrysler agreed to a binding agreement earlier month on a $50 billion tie-up that will […]
Dongfeng and PSA extend their joint venture
China’s Dongfeng Motor and Peugeot maker PSA are extending their business cooperation, regarding the Chinese company decreasing its stake in PSA to help smooth the French automaker’s merger with Fiat Chrysler Automobiles (FCA). Dongfeng stated on Thursday it had agreed with PSA to increase the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). […]
Fiat Chrysler to meet unions Friday to discuss merger deal with PSA
Fiat Chrysler will meet Italian trade unions in Turin on Friday to talk about the details of a merger deal with French competitor PSA, the FIM-CISL union stated on Wednesday. Fiat Chrysler (FCA) and PSA confirmed on Wednesday they had agreed to a binding $50 billion merger to form the world’s fourth-largest automaker. FIM-CISL stated […]
UK union seeks guarantees on manufacturing following Peugeot-Fiat merger
Britain’s biggest union is looking forward to guarantees on the long-term future of Peugeot’s plants located in Britain following the French automaker’s binding of a deal on Wednesday with Fiat Chrysler to form the world’s fourth-biggest carmaker. Peugeot runs a car factory located in northern England where it constructs the Opel/Vauxhall Astra. In June, the […]
Fiat Chrysler and Peugeot agree to $50 billion merger
Fiat Chrysler and Peugeot maker PSA deal with the challenge of winning over regulators and delivering on a commitment to cut costs without shutting down factories after sealing a binding deal to form the world’s fourth biggest automaker. Both tasks are likely to prove difficult, as two of the industry’s oldest dynasties attempt to combine […]
Fiat Chrysler, Peugeot boards meet to finalize merger
The boards of Fiat Chrysler Automobiles and Peugeot are going to meet separately on Tuesday to talk about the finalization of an initial agreement for a $50 billion merger which would create the world’s number four automaker, sources stated. A source close to FCA stated the two companies could declare the signing of a binding […]
Dongfeng Motor plans the partial sale of PSA stake
China’s Dongfeng Motor will probably cut its stake in Peugeot owner PSA after hiring banks to review options, people knowledgeable with the matter stated, in a move that could ease the French automaker’s planned merger with Fiat Chrysler (FCA). Dongfeng owns a 12.2% equity stake in the French automaker and would have about half of […]
PSA to sell stake in smaller Chinese tie-up as sales decline
Peugeot maker PSA Group stated it is preparing to sell its 50% stake in an eight-year-old joint venture with Chinese partner Chongqing Changan Automotive which is having a hard time with falling sales. The announcement in Paris on Thursday came after an indication from Changan in regulatory filings in November that it was looking for […]
Fiat Chrysler, PSA will sign merger agreement in coming weeks
Fiat Chrysler and PSA have informed their employees they would sign a binding merger agreement in the coming weeks. In two independent communications through internal channels, obtained by Reuters on Tuesday, the two companies informed the employees that over 50 people were involved in the process. FCA and PSA are in talks to finalize a […]
