PSA CEO Carlos Tavares shook up the industry by purchasing GM's money-losing Opel and Vauxhall brands and vowing to have them turn a profit by 2020. So far, Tavares says, things are on the right track.
German labor leaders fear Opel's Eisenach factory could lose half its 1,800-person work force unless a deal with owner PSA is struck. The French company wants concessions to raise the plant's profitability as a precondition for getting more production allocated to the plant.
PSA's fight to cut production costs at Opel's German factories took on a national dimension with Chancellor Angela Merkel intervening to say she expected the French automaker to honor commitments it made when it bought Opel from GM last year.
EU fines for companies that miss tougher CO2 reduction targets could bring a major European automaker "to its knees," allowing a Chinese buyer to step in with its own electric vehicle technology, PSA Group CEO Carlos Tavares said.
PSA's struggling DS lineup will end a five-year sales slump in 2018, divisional boss Yves Bonnefont predicted, thanks to its new DS7 Crossback SUV and a little help from French President Emmanuel Macron.
PSA's future in China seemed limitless in 2014 as the market became the automaker's largest, outpacing France for the first time. Last year, however, PSA's China sales fell by almost half in a car market that surged 25 percent.
Automotive companies on both sides of the Atlantic pushed back on President Donald Trump's talk of a trade war with Europe using a similar refrain: Everyone will suffer if his rhetoric becomes reality.
PSA boss Carlos Tavares said he will introduce demands as head of the ACEA European automakers' lobby that EU governments commit to develop EV networks in exchange for previously agreed CO2 emissions targets.
Fixed costs at Opel have already been reduced by 17 percent, PSA CEO Carlos Tavares told investors this week, as he outlined steps that he and Opel chief Michael Lohscheller have been taking to turn around the troubled German automaker.
The latest issue of the Automotive News Europe monthly magazine goes live on Monday, March 5. The new edition looks at what Ford of Europe needs to do to make its business sustainably profitable after last year's disappointing performance.
PSA has signed a deal with Malaysian company Naza to jointly produce vehicles for Malaysia and other Asian markets. It is part of the French automaker's plan to boost its presence in the region. Output of the Peugeot 3008 will begin this year, followed by the Citroen C5 Aircross in 2019.