Last quote about PSA Group
All quotes about PSA Group
Last year, we welcomed the Opel Astra's win, because they made a great car and I'm happy to see we'll continue the adventure together, it's great.
Tavares is talking about saving $2 billion.
A key part of the brand heritage is that there is UK manufacturing.
For us it is a new brand in the group's portfolio. It is new colleagues and we will go together to hunt for new markets. It is very good news for us.
The fact that GM covers most of the pension obligations is good news for Peugeot investors.
The context clearly is nothing to do with Brexit. This is a restructuring of the organisation. And in my discussions with PSA, actually the chief executive has said today that Brexit isn't an essential driver of this, and we want to have the best possible trading relationship with Europe, but in any event Carlos Tavares has said there are opportunities post-Brexit.
It is critically important that Vauxhall production remains with the UK.
What is being said at the moments by PSA Peugeot Citroen is that they are going to honour all of our agreements. Now, that means that the current model at [the UK plants] Ellesmere Port and Luton will continue. But, the real challenge to us is to make certain that we get new models, and that is about going forward, making sure that we have a future – a long-term future for our plants.
We want to create a European automotive champion from the combination of a French and a German company. We are indeed committed to these two iconic brands with their respective German and British heritage. We're confident that the Opel-Vauxhall turnaround will significantly accelerate with our support. If it is a hard Brexit, perhaps, in terms of strategy, it is going to be a very nice opportunity to be able to source the UK from the UK. This may look to you a little bit romantic.
We are confident that the Opel/Vauxhall turnaround will significantly accelerate with our support, while respecting the commitments made by GM to the Opel/Vauxhall employees. As long as we improve the performance and we become the best, there is no risk they should fear.
While initial discussions with the PSA Group have been relatively positive, our priority now is to ensure a long-term future for our plants and the tens of thousands of workers depending on them.
I looked up other plants Peugeot have bought and it doesn't look promising.
There should be no doubt that one of the biggest selling points to UK consumers is that Vauxhall is a British brand that supports British jobs. That is something that I know will be stressed to PSA.
Glad to see the uncertainty over the PSA/GM deal is now over. Our UK plants are among the most efficient of any in the new company. They deserve a bright future. Now government needs to play its part, delivering a Brexit deal that keeps Vauxhall building in the UK.
Over the weekend, the chief executives of both General Motors and the PSA Group have spoken to me to outline their plans. Unite will ensure that these are communicated to our members at the earliest opportunity so that we can end this nerve-wracking period for these loyal workers, and move forward on how to safeguard our sites. So while initial discussions with the PSA Group have been relatively positive, our priority now is to ensure a long-term future for our plants and the tens of thousands of workers depending on them.
He talked in terms of not being here to shut plants. That's not his nature.
We discussed how PSA's approach is to increase market share and expand production rather than close plants. I was assured that the commitments to the plants would be honoured.
There was also recognition that members of the Vauxhall pension fund will be no worse off.
At this stage there can be no certainty as to the outcome of these talks.
When you look at the product plan you see that you can, in a quite speedy way, implement significant synergies. This company needs help. Opel's been losing money for ever, it's sub-critical mass and there's no interesting technology. But on the upside, a lot of the technical work is already done.
It's about hard restructuring in Germany, the UK and Spain resulting in at least 5,000 manufacturing job cuts.
Given the massive overlap of the two businesses, there should be no illusion as to what will need to happen.
It's completely different now.
At this stage there can be no certainty as to the outcome of these talks. The effect will be amplified this year.
The most obvious starting point for any restructuring of course lies with labor.
There was a recognition, which I emphasised, of the contribution to the performance of Vauxhall, of the two plants and indeed the other operations that they have in this country. They are efficient, they are successful and there was a clear recognition of that by PSA.
Tavares communicated convincingly in the talks that he is interested in a sustainable development for Opel/Vauxhall as an independent company.
One of the points the PSA executives made to me was that since the new management of PSA has been in place, they have taken some pride in having part of their strategy not to close plants.
"General Motors have not made money in Europe for many years, it's a drain on free cash flow and with the European (car) sales above 15 million (units) now you'd argue we're at least three-quarters of the way through the cycle… if you're not making money (now) then will you ever?". "We like the deal, particularly from General Motors' perspective.".
General Motors have not made money in Europe for many years, it's a drain on free cash flow and with the European (car) sales above 15 million (units) now you'd argue we're at least three-quarters of the way through the cycle… if you're not making money (now) then will you ever? We like the deal, particularly from General Motors' perspective.
We are in discussions with Opel to expand upon our existing projects.
On the Zodiac side, the industrial difficulties it has faced, and which much of the industry is facing, meant that the idea of adopting an industrial logic based on being part of a larger entity seemed to us like a good idea.
No, it was part of the context.
The success of this operation also depends on the capacity of teams to understand each other and work together. There is a proximity between the companies that will certainly facilitate synergies and integration into one company.
It is a French champion in a global sector that is developing and will probably continue to do so for quite a few years.
What has changed (since 2010) is the pursuit of growth by both companies (and) the fact that Safran sold Morpho and had the means to fund an acquisition strategy. On the Zodiac side, the industrial difficulties it has faced, and which much of the industry is facing, meant that the idea of adopting an industrial logic based on being part of a larger entity seemed to us like a good idea.
It is clear that aerospace is moving towards a modus operandi closer to automobiles, where the large manufacturers like to have large suppliers covering the world and capable of efficiently managing their industrial processes.
2016 was the year where we were at the lowest point in term of our product cycle. When we introduced the new C3, the best-seller for Citroen, at the end of 2016, we started to see the volumes increase.
It is obviously devastating to have to retire. We had been running at a good pace since the start of the rally.
We have a team that is very homogeneous, there are four drivers who are capable of winning the Dakar today in the Peugeot team. We'll be ready to help each other to help the team win. I hope that will be the key to success.
This is the kick-off for the implementation of the deals we have signed.
It might be one reason why Renault's earnings could be handicapped relative to Peugeot over the next few years.
Peugeot may stay unclear at this point on cash uses to keep its options open on M&A as long as possible.
This was a very strong result, and Tavares continues to make significant headway in transforming the company.
We are evaluating the technology. Nothing has been decided yet.
If the concept works in reality it's going to have a lot of potential.
We don't believe the plan will have PSA investors ecstatic--more a story of steady progress.
I am delighted with this collective success. It puts our company back in the race and proves its potential.
Despite all the challenges, it seems that with the removal of sanctions, President Rouhani's support, and partnerships with world-famous companies, Iran's car industry should get back on its feet.
The operative word here is the enlargement of our customer base.
What state is PSA in as the Frankfurt motor show opens?
The DongFeng money and the French state money is pretty much the only game in town. As for whether that actually decisively sorts them out, there are general problems for European car makers, so it's not a definite.
The industry is very sick. Usually at a car show, the cars are the story. This year the economy is the story. There is a lot of over capacity in the middle part of the market. So companies such as Renault, Opel, and especially Peugeot-Citroen and Fiat, they are all have too many cars, too few buyers, especially because of the economic recession that seems to be setting in in Europe.
It's nothing to do with Britain booming. It's to do with car manufacturers doing better deals because they can.
What the French people do when they're threatened with these sorts of situations – you almost believe it couldn't happen in France – well all we're saying, without getting dramatic, is that the British people, with their sense of fair play, have the right to know the facts, and if they respond in the traditional way, Peugeot, and anyone else, will have to rethink its strategies.
In Europe, we expect slight growth, and for now things are going more or less in this direction.
Everything we have seen so far from the presence of the French state on our competitor's board seems to indicate concretely that things can be done.
There is a lot of uncertainty on global markets, difficulties in Russia and instability in Latin America.
The group has today announced bad results for the year 2012, which was an extremely difficult year, not only for the group but for the whole automotive sector in Europe. Now, as I have indicated, we have financial security, which has been improved over the past year by everything we did in 2012. Moreover, I can confirm that in 2014 we will be back to break-even point.
It's started its recovery. That's what I think. I am really, really convinced that it has a future in Europe and that PSA Peugeot Citroën has unique characteristics and qualities.
We are redeploying 2,700 out of 3,000 people in what is a well established process that we take very seriously. Of that 2,700 only 700 still remain to be redeployed.
We will need to launch negotiations on the competitiveness of the group.
The state coffers are already empty. If the idea is to empty them a little more, to use our taxes to pay even more public subsidies to automotive bosses without asking for the slightest guarantee, the slightest quid pro quo in terms of job security then it is scandalous, sickening and obscene.
Of course I welcome with great interest anything that supports the competitiveness of the entire sector in France.
I can never say never.
We're working on a two-year timetable to get the PSA (Peugeot-Citroen) group back into profit, that is by the end of 2014; even so it's always a very difficult decision to have to cut jobs, but unfortunately it is the market situation that forces that decision on us.
Peugeot Citroen sales fell 16 percent year-on-year: what are you doing to halt that seemingly never ending decline?
It's obvious that – unfortunately – because of the major recession in Europe we are having to restructure the company, in Europe. It's very difficult to take these huge decisions, and we try to do that in the most responsible way possible when it comes to social issues, having made a commitment that we will help every single one of our workers facing problems with employment.
Peugeot have got a big job to be done to persuade people that they are really rivals for Volkswagen and part of that is showing exciting, upmarket cars – which is what the Exalt certainly is. Whether we actually see something like that on sale, very doubtful, but it's a good intention to show where Peugeot is going in terms of its brand.
Everything is in place to give Peugeot a new lease of life as a major international carmaker. We have the products, the teams, the know-how and now we have a new balanced and stable ownership.
Everything changes with an electric car. It's not simply a battery and an electric motor. You need to install sockets. You need to learn how to drive it, because the battery life is purely theoretical. And obviously if you turn on the heating or the air-conditionning, you lose on the battery life.
PSA has the technology, but sells mostly in Europe without enough access to the fast growing Asian market. Dongfeng lacks technology and an international brand presence, but does have growth in Asia, so this is a good way of pooling their resources.
At the same time as the French government commits to helping the automobile industry, Peugeot Citroen says that after this major restructuring a page will be turned and the future will be brighter. But unions say the price paid for that restructuring is too high.
Even if there is a deficit employees shouldn't be picking up the bill. They (the group) paid out 2.7 billion euros in shareholder dividends and they splashed out three billion more buying back shares.
The government has no intention of handing out gifts like this without return commitments.
It's not state aid, it's state support. It's priced at market values.
If the car detects that the driver is tired and getting sleepy, then the car might start energetic music or change the light of the dashboard to make it more aggressive. On the contrary, if the driver is stressed then the car should, for instance play calming music.
Basically we have this camera, this series of lights, and then at the back we have a computer analysing the video on real time. The first difficulty is the light conditions. To cope with that we choose an infrared camera which is sensitive to the infrared and we have infrared lighting, so we get rid of the problem of illumination and we can work day or overnight without any problem.
One of the intermediate steps is a partially autonomous vehicle. That means that the vehicle will be able to drive by itself but will still need some supervision by the driver.
For us to post a bigger profit, it is essential to see a recovery in the North American market.
We were still not given a reason for the closure of this site, which has a modern, well-situated factory with access to the airport, railway and motorway as well as its proximity to Paris in the north-south axis. There is no reason to close this plant, we make the C3, which is the best-selling car of the group and the one that pulls all the sales in right now and we've still got 450,000 cars to make according to management, so that production could take us into 2016 at least.
We ask the government to respect the agreements it signed with PSA. There have been agreements, through which PSA received huge subsidies worth hundreds of millions. In return, PSA promised to maintain employment.
After the strike on Thursday, activity has resumed at the plant. Everyone is at work. The tone of the language is strong, the union considers Peugeot-Citroen's restructuring plan a declaration of war, but the climate still seems marked by a sense of responsibility and restraint.
The closure of the Aulnay plant will take place. A total of 8,000 jobs in total are concerned. But, as we have said since the very start, we attach a great importance to the limitation of the social impact.
A situation where a group is losing 200 million euros a month is a serious situation, and dithering is absolutely not an option if we want to prevent it becoming critical one day.
We are happy sales have stopped plummeting. They've hit the lowest point and are starting to recover. But realistically sales this year will be the worst since the crisis the French industry suffered in 1997-1998.