Peugeot is a holding company. Through its subsidiaries, Co. is engaged in the production of Peugeot and Citroen automobiles, as well as other vehicles. In addition to automobile manufacturing, Co.'s operating subsidiaries include Faurecia, which manufactures automotive equipment. Gefco, which... More
Monday, Dec 26:51 AMWeak month for auto sales in France|Monday, Dec 26:51 AM| Comment!
Sunday, Nov 244:37 AMPeugeot interviewing candidates to replace CEO
Sunday, Nov 244:37 AM| Comment!
- Struggling PSA Peugeot Citroen (PEUGF) is reportedly interviewing potential replacements for CEO Philippe Varin, who is heading the search for his successor. A source said that the appointment process is "not far from a conclusion."
- The interviews come amid pressure from Chinese joint-venture partner Dongfeng (DNFGF), which will only deepen its alliance with Peugeot if the latter makes management changes.
- The companies are in talks to extend their co-operation to new markets, and for Peugeot to carry out a €4B share issue in which Dongfeng and the French government would buy stakes in Peugeot. However, the company's founding family are unhappy about the loss of control that a capital hike would entail.
Tuesday, Nov 192:49 AMEuropean car sales continue recovery
Tuesday, Nov 192:49 AM| 1 Comment
- European car sales rose for a second month in a row in October, climbing 4.6% on year to 1.04M registrations after a 5.5% gain in September.
- However, registrations fell 3.1% in January-October, strengthening the likelihood that the market will fall for a sixth consecutive year in 2013.
- The Spanish car market jumped 34.4%, while most other markets grew moderately, although Italy fell 5.6%.
- Toyota (TM) +16.5%, Renault (RNSDF) +14%, Volkswagen (VLKAF) +5.7%, General Motors (GM) +6.2%, Daimler's (DDAIF) Mercedes-Benz +8.5%, and BMW (BAMXF) +0.3%.
- However, Fiat (FIATY) -7.3%, Honda (HMC) -6.4%, Peugeot (PEUGF) -0.7% and Ford (F) -0.2%. (PR)
Monday, Nov 46:56 AMCar registrations higher in France during October|Monday, Nov 46:56 AM| 2 Comments
Wednesday, Oct 233:01 AMPeugeot, GM could reduce scope of partnership
Wednesday, Oct 233:01 AM| Comment!
- Peugeot Citroen (PEUGF) and GM (GM) could scale back their alliance, with a plan to develop a new platform for sub-compact vehicles "under review."
- Such a move would probably reduce the expected medium-term synergies of the carmakers' alliance from the $2B that was forecast.
- Two GM-Peugeot programs for small and compact minivans are still in the pipeline. GM and Peugeot are also considering "new initiatives."
- Meanwhile, Peugeot's Q3 revenue fell 3.7% to €12.11B.
Wednesday, Oct 163:50 AMEuropean car sales return to growth
Wednesday, Oct 163:50 AM| 1 Comment
- European new-car sales increased at the fastest rate in over two years in September, climbing 5.5% on year to 1.19M vehicles after dropping 4.9% in August.
- In January-September, sales fell 3.9% to 9.34M cars.
- Last month's figures were boosted by the end of the eurozone recession, price cutting, and a Spanish government-incentive scheme that helped demand jump 29%.
- "Car sales in the EU are showing signs of improvement, indicating that the worst is behind us," says Ernst & Young's Peter Fuss. "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.
- Registrations in the U.K. rose 12% and 3.4% in France, but dropped 1.2% in Germany and 2.9% in Italy.
- GM's (GM) sales +5.4%, Ford (F) +5%. (PR)
- Related tickers: PEUGF.PK, HMC, FIATY.PK, TM, VLKAF.PK, BAMXF.PK, DDAIF.PK, RNSDF.PK.
Monday, Oct 146:50 AM
Saturday, Oct 1210:40 AMEuropean automobile market: Beware of taking on the Germans
Saturday, Oct 1210:40 AM| 15 Comments
- Major automobile companies are making a big mistake in thinking they can increase profit margins by taking on German automakers (BAMXY.PK, VLKAY.PK, DDAIF.PK) in the luxury market on their home turf, argues Neil Winston of The Detroit News.
- The "delusional" strategy to invest in the high-end market - instead of slashing capacity and following the lead of the successful South Korean automakers (KIMTF.PK, HYMLF.PK) in Europe - has proven disastrous to automakers such as Saab, Renault (RNSDF.PK), and Volvo (VLKAY.PK) in the past.
- Peugeot (GM, PEUGF.PK) and Ford (F) are guilty of falling for the temptation to move more models into the European upscale market, while Fiat (FIATY.PK) is playing small ball on the continent.
Thursday, Sep 192:36 PM
Tuesday, Sep 174:30 AMEuropean car sales fall back again
Tuesday, Sep 174:30 AM| 1 Comment
- European car sales dropped 4.9% on year in August to 686,957 units after rising 4.9% in July as new registrations fell in France, Italy and Germany last month. However, the U.K. again continued to enjoy growth, with volumes increasing 10%.
- In January-August, European sales dropped 5.2%.
- Peugeot (PEUGF.PK) had a particularly bad August as sales slumped 18%, with Honda (HMC) -19.6%, Fiat (FIATY.PK) -4.9%, Toyota (TM) -4%, Volkswagen (VLKAF.PK) -11%, Audi -6.4% and Ford (F) -0.9%,
- BMW (BAMXF.PK) +9.9%, Daimler (DDAIF.PK) +5.5%, Renault (RNSDF.PK) +5.8% and GM (GM) +0.7%.
- The data comes after car executives had expressed hope at the Frankfurt Motor Show that the European car market was stabilizing. (PR)
Tuesday, Sep 104:24 AMEuropean car market stops skidding
Tuesday, Sep 104:24 AM| 6 Comments
- The auto market in Europe is stabilizing after five years of steep declines, car executives have said, but they expect the recovery to be long and slow due to high unemployment and soft bank lending in the region.
- Europe should "see the end of the tunnel next year," said Renault (RNSDF.PK) chief Carlos Ghosn, who was speaking at the Frankfurt Motor Show.
- Meanwhile, Volkswagen (VLKAF.PK) aims to increase car sales to 9.5M this year from 9.3M in 2012, helping to boost shares 2.1% in Frankfurt. Brand sales dropped 1% in August to 461,600 cars, giving a year-to-date figure of 3.84M. That up 3.1% from last year.
- Auto Tickers: F, GM, TM, HMC, CARZ, FIATY.PK, PEUGF.PK, BAMXF.PK, DDAIF.PK HYMLF.PK, NSANF.PK
Tuesday, Jul 3011:32 AMPeugeot gets a lifeline|Tuesday, Jul 3011:32 AM| 1 Comment
Tuesday, Jul 163:17 AMEuropean car sales dropped to the lowest levels since 1993 in H1, sliding 6.7% to 6.44M, the European Automobile Manufacturers' Association said, as the economic slump continued to bite. June registrations tumbled 6.3% to 1.18M, the lowest for the month since 1996. Sales in four of Europe's biggest automotive markets contracted in June, although the U.K. grew 13%. Manufacturer June breakdown: GM (GM) -9.9%, Ford (F) +6.9%, Volkswagen (VLKPF.PK) -4.4%, Daimler (DDAIF.PK) +0.6%, Peugeot (PEUGF.PK) -11%, Renault (RNSDF.PK) +0.9%, Fiat (FIATY.PK) -14%. (PR) |Tuesday, Jul 163:17 AM| 7 Comments
Friday, Jul 127:33 AM"Two drowning men don’t make a swimmer." That's the rationale for General Motors (GM) passing on investing in a closer relationship with Peugeot (PEUGF.PK). Automobile industry watchers think Peugeot will look to link up with a Chinese automaker as GM stays content with its 7% stake in the French automaker. |Friday, Jul 127:33 AM| 2 Comments
Wednesday, Jul 1010:22 AM
Tuesday, Jul 27:47 AMFiat (FIATY.PK) was not one of the automakers that the founding family of Peugeot (PEUGF.PK) vetted over a potential controlling investment. The longer the Peugeot saga plays out, the closer it appears that General Motors could end up as Peugeot's dancing partner. |Tuesday, Jul 27:47 AM| 1 Comment
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