Monday, March 1, 2021
Indian Drives
No Result
View All Result
No Result
View All Result
Indian Drives
No Result
View All Result
Home Latest News

PSA Peugeot and General Motors to form a strategic alliance

by indiandrives
in Latest News
0 0
0
0
SHARES
15
VIEWS
Share on FacebookShare on Twitter

Europe’s second largest carmaker, PSA Peugeot Citroen is in talks with the US based General Motors regarding a strategic alliance to join forces for building cars and components in Europe. Last week, the company reported decline in profit and increased debts.

“In the context of its globalisation strategy and improving its operational performance, PSA Peugeot Citroen looks at potential co-operations and alliances” a spokesperson of the Paris-based company said in a statement. “Discussions are taking place and there can be no certainty at this stage that these discussions will result in any agreement” the spokesman added.

In the reports, Peugeot declared the losses mounting to 1.65 million Euros as the company battles with dropping sales and raging fuel prices for small car segment in Europe. The joined alliance could be a good strategy to conquer Europe market where on one hand Peugeot reported last week of selling 1.5 billion Euros worth assets to reduce debt. And on the other hand, General Motors, arguably the world’s largest carmaker is compounding heavy losses with its much less successful model Opel/Vauxhall.

PSA Peugeot and General Motors to form a strategic alliance

The alliance  is likely to provide immense help to Peugeot and GM’s Europe division, by adopting heavy restructuring to reverse the debts they have been mounting over the current slack in auto industry. The joined forces could also work in developing engines, transmission systems and vehicles that would be sold under their respective brands. However, it is just a speculation now. PSA Peugeot and General Motors have not yet signed any agreement, but we can expect an official announcement at the 2012 Geneva Motor Show.

Tags: General MotorsPSA Peugeot
Previous Post

Dacia Lodgy MPV may come to India

Next Post

The beginning of year 2012 seems to be a win-win situation for Volkswagen Group

Next Post

The beginning of year 2012 seems to be a win-win situation for Volkswagen Group

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Archives

Recent Posts

  • Latest News From Indian Automobile Industry:Tata Safari, Mahindra Scorpio, Strom R3, Hyundai Alcazar
  • Honda CB350 RS Launched In India At Rs 1.96 Lakh: Bookings For The Motorcycle Commences
  • Hyundai Alcazar Name Confirmed For Upcoming 7-Seater SUV: Global Debut Soon
  • Strom R3 Electric Car Bookings Open – Fully Electric 2-Door 2-Seater With Sunroof
  • Volkswagen Polo & Vento Turbo Editions Launched In India: Prices Start At Rs 6.99 Lakh

Categories

Indiandrives.com

© 2020 Indian Drives

Navigate Site

  • Auto Expo 2020
  • Aston Martin
  • Audi
  • Bentley
  • BMW
  • Buyers Guide
  • Car Comparison
  • Chevrolet
  • Driving Tips
  • Events
  • Featured
  • Ferrari
  • Fiat
  • Force
  • Ford
  • Great Wall Motors
  • Harley Davidson
  • Honda
  • Hyundai
  • Isuzu
  • Jaguar
  • Kia
  • Koenigsegg
  • KTM
  • Lamborghini
  • Latest Cars
  • Latest News
  • Lexus
  • Mahindra
  • Maruti Suzuki
  • Maserati
  • Mercedes Benz
  • MG Motor
  • Mitsubishi
  • New Car Reviews
  • Nissan
  • Peugeot
  • Porsche
  • Range Rover
  • Renault
  • Rolls Royce
  • Skoda
  • Tata
  • Test Drive
  • Auto Expo 2020
  • Toyota
  • Kia
  • Upcoming Cars
  • MG Motor
  • Used Car Reviews
  • KTM
  • Volkswagen
  • Isuzu
  • Volvo
  • Harley Davidson
  • MG
  • Great Wall Motors

Follow Us

No Result
View All Result

© 2020 Indian Drives

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In