Word: citroens
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...large branded auto firms. It plans to complete the process in a year or two by simply acquiring existing, well-known brands. There is no reason that a Chinese car firm cannot use government money to bid for Chrysler's assets if it is forced into bankruptcy. In France, Citroen and Peugeot are facing financial problems that could get much worse if car sales remain anemic. GM's (GM) Opel unit in Europe needs immediate capital and may be sold at a loss for the No.1 U.S. car company. The Chinese could pick up brands, manufacturing assets, product-development personnel...
...Nicolas Sarkozy thinks so, albeit with some controversial conditions. Just before unveiling an $8 billion loan for French carmakers Renault and PSA Peugeot Citroen last week, the French President suggested the aid should be conditional on them packing up their plants elsewhere in the E.U. and returning all production to their homeland. "If we are to give financial assistance to the auto industry, we don't want to see another factory being moved to the Czech Republic," he said, referring to Peugeot Citroen's seven-year old Czech plant. (See pictures of Sarkozy...
...surprise that the row revolves around cars, an industry badly hit by the downturn. Sarkozy's loan package was announced the day Peugeot Citroen revealed 11,000 job cuts worldwide. Sales at German firms such as VW, Europe's biggest carmaker, dropped 16% in January, BMW, the world leader in luxury autos, was down 22% and Daimler AG's Mercedes unit fell 35%. No surprise that European carmakers are pleading for an immediate $19 billion cash injection from...
...Slovak Prime Minister Robert Fico said his country, which also hosts a plant owned by PSA Peugeot Citroen, could launch retaliatory measures against Paris. "Calls for such brutal protectionism are not helping anyone," he said. "If one country starts behaving like this, for example France, then we will send Gaz de France home...
...plunging consumer demand - new-car sales across Europe dropped 14.5% in October - France's two major automakers, Renault and Peugeot-Citroen, have temporarily shut down production at several plants. Peugeot is expected to present a plan Tuesday to cut 2,700 jobs. In Germany, Chancellor Angela Merkel has been more cautious in response to the crisis, and warned against precipitate state intervention. Still, Berlin is expected to approve up to $1.26 billion in loan guarantees for Opel if parent company GM goes under...