PSA relationships - news feeds
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  1. #1
    1000+ Posts gerry freed's Avatar
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    Default PSA relationships - news feeds

    They confirmed this week that equity negotiations were in progress with Dongfeng.
    They are reviewing from 'a zero base' the relationship with GM and have put out a sort of interim statement which says that the Zaphir replacement will be built in the PSA factory at Sochaux.
    The idea of a common B segment car and its petrol engine has been shelved.
    They are working on a plan to produce a common replacement for the Berlingo/Partner.
    They estimate that the benefit of the alliance is around 1.2 billion euros per annum, down from the 2 billion estimated when it was initiated. It should result though in 700,000 vehicles a year being produced in common.

    I suppose that we will soon see some similar vehicles badged Opel,Vauxhall, Pug or Cit, which won't affect Aus. as they have dropped the Opel brand there - unless they are to be branded Holden.

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  2. #2
    1000+ Posts gerry freed's Avatar
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    It is now said that the French government and GM are both willing to support Dongfeng buying in.
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  3. #3
    1000+ Posts gerry freed's Avatar
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    Things are moving fast. GM now says it is selling its shares in PSA and the government is now pushing Dongfeng which even Montbourg says will help PSA to reach critical mass.
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    1000+ Posts gerry freed's Avatar
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    Things are moving fast. GM now says it is selling its shares in PSA immediately by a private placement and the government is now pushing Dongfeng which even Montbourg says will help PSA to reach critical mass. PSA say they will take a 1.1 billion euro write down on their assets in this year's results because of poor sales in Russia and South America. Both GM and PSA have suggested that the operation collaboration will continue.
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  5. #5
    1000+ Posts gerry freed's Avatar
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    GM made a nice profit out of the investment. They sold at about 10 euros. The market has now dropped below that as investors wait for the dilution that will occour as the Chinese buy in. Rumour has it that they will be buying at around 8 euros
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