Arab Today, arab today peugeot gm seal deal for global sales low emissions
Last Updated : GMT 20:50:31
Arab Today, arab today
Arab Today, arab today

Peugeot, GM seal deal for global sales, low emissions

Arab Today, arab today

Arab Today, arab today Peugeot, GM seal deal for global sales, low emissions

Paris - AFP

French auto group Peugeot Citroen and General Motors laid out a strategy on Thursday to broaden their joint venture in Europe into a global alliance, but have abandoned the idea of joint models for the luxury market. For both businesses the venture is vital to a recovery from crisis. The French group, known fully as PSA Peugeot Citroen, has just been rescued with state guarantees for its banking arm and is enacting controversial restructuring. General Motors of the United States is well on the way to recovery from a state rescue and radical cutbacks when the US car industry fell into distress after the financial crisis. At the end of February, the two giants announced that they would work together and said that they would come up with firm projects by the end of the year. The two groups are complementary to the extent that they offer each other technologies, models, markets and distributions networks to achieve global scale and range, but they come from different cultures. The US administration imposed massive plant and job cuts on GM as a condition for rescue help. The group is now well on the road to recovery. In France, a programme by PSA to close a plant and axe about 8,000 jobs provoked national controversy and hostility from the newly installed Socialist government which has since had to step in with guarantees of about 7.0 billion euros ($9.3 billion) for the group\'s banking and credit arm. GM, which owns the Opel and Vauxhall brands in Europe, remains a leading auto group and PSA is the second-biggest auto maker in Europe despite losing huge ground to the German VW empire in the last 10 years. GM has announced that it will close a factory of its struggling Opel subsidiary in Bochum from 2016 when production of the Zafira model ceases. Under the strategy announced on Thursday, the two boards have accepted three of four projects for the joint development of models. The first programme is for a so-called monospace vehicle under the Opel/Vauxhall names and a crossover utility vehicle (CUV) under the Peugeot brand. These will replace the Opel Zafira and the Peugeot 3008. The second programme is for a small monospace vehicle for the two groups, and the third is for a modernised platform for small, low-emission cars for the Opel, Peugeot and Citroen brands and for sale in Europe and on other markets But the two groups have decided against the joint development of top-range vehicles as had been mentioned at the end of October. The segment for high-end vehicles in which German makers such as VW excel, offer big margins, but the two groups concluded that the business model proposed was not viable. The two groups said that they were studying other projects for the joint development of vehicles. They also signed an agreement for joint procurement, restricted to Europe. At the end of February they had laid down a target for joint purchases of $125 billion. But they said they wanted to broaden their alliance, until now targeted at Europe, to the rest of the world. This is of critical importance to PSA. A study by a government-appointed expert after the group announced its job cuts concluded that it had no option but to restructure and that its problems were the result of 20 years of strategic mistakes in missing the bus of globalisation. PSA is a private group, heavily influenced by the Peugeot family, but in France industrial groups and notably carmakers tend to come under heavy national pressures to focus investment in France and not to \"delocalise\" investment and jobs. The other big French auto group, Renault, has diversified heavily in Japan, eastern Europe and also North Africa. There are two central thrusts to the strategy. One is the joint development of a new generation of small, low-consumption petrol engines evolved from a programme by Peugeot called EB. The other is focused on projects for vehicles and on industrial projects in Latin America and in other growth markets. A spokesman said that future low-pollution cars could offer opportunities in Latin America. GM is well established in South America, notably in Brazil where PSA wants to strengthen its presence following an exemple set by Renault.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today peugeot gm seal deal for global sales low emissions Arab Today, arab today peugeot gm seal deal for global sales low emissions

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:19 2017 Sunday ,19 February

Syrian Khallouf Trading Company launches two new cars

GMT 10:37 2017 Thursday ,16 February

Motorsport fans encouraged to buy GP tickets

GMT 13:21 2017 Wednesday ,15 February

200 Teslas to join Dubai Taxi fleet

GMT 21:20 2017 Tuesday ,14 February

Tesla brings electric cars to supercar-loving UAE

GMT 05:55 2017 Monday ,13 February

Careem scheme aims to help refugees

GMT 05:51 2017 Monday ,13 February

Al Fahim Group unit revelas strong growth
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday