Think the bleak news flowing from Europe’s debt crisis is depressing? Check out the region’s auto industry, whose tumbling sales and excess production capacities have many experts anticipating a spate of mass layoffs and plant closures in coming months. This week alone, France’s Peugeot PSA confirmed it will eliminate 8,000 jobs and close one Paris-region [...]
Tag Archives: Peugeot
GM to take Peugeot Stake as Part of Alliance
(FRANKFURT, Germany) — General Motors and France’s PSA Peugeot Citroen, both struggling in Europe, said Wednesday that they’re forming an alliance to share car platforms and purchasing power. As part of the alliance, Detroit-based GM intends to take a 7 percent stake in the French automaker, making it the second-largest shareholder behind the Peugeot family. [...]