Changng alliances in European car production
The French government could enter the capital of Peugeot, according to La Tribune. In exchange, the State would require that the firm produces more in France The group denied the report.
Source : https://www.marocafrik.com/english/Changng-allianc...
The French government , which owns 15% stake in Renault, could enter the capital of Peugeot, according to La Tribune. In exchange, the government would require commitments on Peugeot production in France. this is denied by a PSA according to La Figaro.
The family group remains the largest shareholder of PSA with 25.2% of the capital and 37.9% of the voting rights.If the state provides financial support it must also take a share in the company.
the Minister of Productive Recovery, Arnaud Montebourg, has put pressure on the president of PSA Philippe Varin, to be clearer about its intentions for the factory in Aulnay sous Bois, which could soon close.
Confirmation of the crisis at Peugeot came with today's release half-yearly sales of the automaker. In Europe, its largest market,the brand sales fell by over 15% in the first six months, to 980,000 vehicles. Result: the market share of PSA in Europe was down 13.9% to 12.9%. The most promising markets for the Peugeot and Citroen are (France, Spain, Italy) but they are in deep crisis," said PSA. A situation that pushes Peugeot to increase its savings measures.
However, outside Europe, PSA is performing well. Group sales rose with the exception of Latin America (-21% to 122,000). This is the case in Russia (17% to 41,000 units), China (7% to 209,000 units) and the rest of the world (12% to 124,000 units). The second European manufacturer has achieved 39% of its sales outside europet, as
against 38% in the first half of 2011.
In another development announced on Wednesday Volkswagen, which already owns 49.9% of Porsche AG, will acquire "probably from the 1st August" the remaining shares of their joint holding company, Porsche SE, for $ 4.46 billion.This integration is "good for Volkswagen good for Porsche and good for production sites in Germany" said Martin Winterkorn, head of both Volkswagen and Porsche SE at a news conference on Thursday, reports La Vie Eco.
The cooperation between the two entities has been effective since 2009, including the construction of Porsche models in Volkswagen Group plants, the completion of their union will officially mark the eleventh Porsche VW Group, which owns among others Skoda, Seat , Audi, Bugatti and Bentley.
"With Porsche, Audi and Bugatti, Volkswagen now has a monopoly position in the market for premium cars," with 40% of the world, says Ferdinand Dudenhoffer, a professor at the University of Duisburg-Essen, interviewed by the AFP.
This marriage of convenience is the success of the vision of the patriarch Ferdinand Piech, chairman of the supervisory board of Volkswagen and Porsche's largest shareholder .
The family group remains the largest shareholder of PSA with 25.2% of the capital and 37.9% of the voting rights.If the state provides financial support it must also take a share in the company.
the Minister of Productive Recovery, Arnaud Montebourg, has put pressure on the president of PSA Philippe Varin, to be clearer about its intentions for the factory in Aulnay sous Bois, which could soon close.
Confirmation of the crisis at Peugeot came with today's release half-yearly sales of the automaker. In Europe, its largest market,the brand sales fell by over 15% in the first six months, to 980,000 vehicles. Result: the market share of PSA in Europe was down 13.9% to 12.9%. The most promising markets for the Peugeot and Citroen are (France, Spain, Italy) but they are in deep crisis," said PSA. A situation that pushes Peugeot to increase its savings measures.
However, outside Europe, PSA is performing well. Group sales rose with the exception of Latin America (-21% to 122,000). This is the case in Russia (17% to 41,000 units), China (7% to 209,000 units) and the rest of the world (12% to 124,000 units). The second European manufacturer has achieved 39% of its sales outside europet, as
against 38% in the first half of 2011.
In another development announced on Wednesday Volkswagen, which already owns 49.9% of Porsche AG, will acquire "probably from the 1st August" the remaining shares of their joint holding company, Porsche SE, for $ 4.46 billion.This integration is "good for Volkswagen good for Porsche and good for production sites in Germany" said Martin Winterkorn, head of both Volkswagen and Porsche SE at a news conference on Thursday, reports La Vie Eco.
The cooperation between the two entities has been effective since 2009, including the construction of Porsche models in Volkswagen Group plants, the completion of their union will officially mark the eleventh Porsche VW Group, which owns among others Skoda, Seat , Audi, Bugatti and Bentley.
"With Porsche, Audi and Bugatti, Volkswagen now has a monopoly position in the market for premium cars," with 40% of the world, says Ferdinand Dudenhoffer, a professor at the University of Duisburg-Essen, interviewed by the AFP.
This marriage of convenience is the success of the vision of the patriarch Ferdinand Piech, chairman of the supervisory board of Volkswagen and Porsche's largest shareholder .
Source : https://www.marocafrik.com/english/Changng-allianc...