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
Wednesday, Mar 51:45 PM|Wednesday, Mar 51:45 PM| Comment!
Wednesday, Feb 193:48 PM|Wednesday, Feb 193:48 PM| Comment!
Wednesday, Feb 193:55 AM
Wednesday, Feb 193:55 AM| 1 Comment
- Peugeot Citroën's (PEUGF) net losses narrowed to €2.32B in 2013 from €5.01B in 2012, when the ailing French car maker took €3B in charges for asset impairments.
- Peugeot's recurring operating loss fell to €177M from €560M, while revenue slipped 2.4% to €54.09B. (PR)
- Peugeot's results come after it announced a €3B capital raising in which China's Dongfeng Motor Group (DNFGF) and the French state will invest €800M each and receive a 14% stake in Peugeot. The latter will also issue warrants to its existing stockholders.
- The Peugeot family will lose control of the 204-year-old company for the first time, with its holding dropping to 14% also from 25.4%.
Tuesday, Feb 187:08 AM
Tuesday, Feb 187:08 AM| 3 Comments
- European car sales increased 5.2% in January as the recovery in the region started to broaden out to countries such as Greece and Portgual.
- Volkswagen (VLKAY) and Peugeot (PEUGY) were outperformers with sales gains of 7.6% and 3.8% respectively, according to the Association of European Carmakers. Hyundai (HYMLF) was on the other side of the ledger with a 5.5% drop in sales during the month.
- Of the Detroit automakers, Ford (F) has the best month with a 8.8% rise in sales.
Wednesday, Jan 227:25 AM
Tuesday, Jan 213:58 AM
Tuesday, Jan 213:58 AM| 1 Comment
- PSA Peugeot Citroen (PEUGF) is in talks with Chinese partner Dongfeng Motor and the French state over raising €3B ($4.1B) so it can invest in new models and growth markets, the struggling carmaker said yesterday.
- Dongfeng and France would provide at least €750M each in exchange for 14% apiece, Bloomberg reports. Peugeot's controlling family would invest €100M in order to retain a stake of 14% vs 25.5% currently. However, the family is divided over whether to accept the deal.
- The company would also hold a rights issue of €1.4B.
- Peugot hopes to a seal the agreement by February 19, when it is due to disclose its annual earnings. The deal would mark a shift away from its not overly successful partnership with GM.
Friday, Jan 177:43 AM
Friday, Jan 177:43 AM| Comment!
- The board at Peugeot (PEUGY) will meet this weekend to discuss a plan to take a $1B investment from Dongfeng Motor and the French government to be split evenly.
- Under the scenario, the automaker would also sell shares to bring the total fundraising close to $3B.
- There is a division within the controlling Peugeot family over the proposal, according to sources.
Monday, Jan 67:53 AM
Monday, Jan 67:53 AM| Comment!
- Car sales in Europe are forecast to increase 2.5%-3% in 2014 as demand stabilizes in the region, according to a round of new forecasts.
- Though discounts are expected to taper off during the course of the year, automakers selling in Europe will still face some pricing pressure and are burdened with too much capacity. Last year, sales came in almost 25% lower than the industry-high seen in 2007.
- Related stocks: Fiat (FIATY), Renault (RNSDF), Volkswagen (VLKAY), Peugeot (PEUGY).
Thursday, Jan 28:07 AM
Thursday, Jan 28:07 AM| Comment!
- Automobile sales in France rose 9.4% in December to continue the trend of improving demand in the nation.
- French automakers regained market share during the month. Renault (RNSDF) saw sales increase 37%, while Peugeot (PEUGY) sales were up 11%
- The final France auto sales tally for 2013 was a drop of 5.7% Y/Y after a poor first half proved too difficult to overcome.
Monday, Dec 232013, 4:38 AM
Monday, Dec 232013, 4:38 AM| Comment!
- General Motors' (GM) European unit Opel expects a difficult 2014 but believes it will be able to grow enough that it won't need to cut more costs, the head of the business, Thomas Neumann, has told newspaper Sueddeutsche Zeitung. Opel is on course to become profitable in 2016, Neumann also said.
- Opel will continue to co-operate with Peugeot (PEUGF), he said, even though GM plans to sell its 7% stake in the troubled French carmaker.
- Neumann believes that as a member of key GM committees in Detroit, he has enough influence to "stand for Opel" and "fight for the brand."
Tuesday, Dec 172013, 7:15 AM
Tuesday, Dec 172013, 7:15 AM| 3 Comments
- European car registrations rose 1.2% Y/Y in November to put together a third consecutive month of gains on the continent.
- By regions, the U.K. and Greece were strong while registrations in Germany slipped 2% during the month.
- Monthly growth by manufacturer: General Motors (GM) -3.8%; Volkswagen (VLKAY) +3.2%; Daimler (DDAIF) -1.6%; BMW (BAMXY) -6.8%; Fiat (FIATY) -5.8%; Renault (RNSDF) +8.9%; Peugeot (PEUGY) -1.2%; Ford (F) -1.8%; Honda (HMC) -4.0%; Hyundai (HYMLF) -7.3%; Toyota (TM) +7.3%; Jaguar Land Rover (TTM) +1.3%; Suzuki (SZKMY) +15.8%; Nissan (NSANY) flat.
Sunday, Nov 242013, 4:37 AM
Sunday, Nov 242013, 4:37 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.
Wednesday, Oct 232013, 3:01 AM
Wednesday, Oct 232013, 3:01 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.
Tuesday, Sep 172013, 4:30 AM
Tuesday, Sep 172013, 4:30 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 102013, 4:24 AM
Tuesday, Sep 102013, 4:24 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 162013, 3:17 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 162013, 3:17 AM| 7 Comments
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