PSA Peugeot Citroen offers herself to GM. Americans think.
Financial reports Peugeot revealed to the world the truth about the unstable financial situation of French concern. Accounts payable automaker has long exceeded the accounts, but has developed to date, the critical situation forced PSA Peugeot Citroen to seek investments for General Motors.
In turn, GM did not fail to take this opportunity to bolster its position in Europe and demanded that the French have a controlling stake in PSA (formerly the American auto giant has bought 7% stake in the company).
Causes of the incident are on the surface. According to the annual balance of PSA Peugeot Citroen is seen that the company itself framed himself bandwagon by running a hand through his revolving funds. Leadership allowed the automaker to translate these articles about 3 million Euros in cash. As a result, 3 million Euros spent, and current capacity that must be repaid, reduced.
Incidentally, as GM, PSA and suffer from excess capacity. Each year, a French corporation incurred losses from downtime, but could not carry out their plans to reduce production by notorious us reasons. And today, the only way to breathe life into the once prosperous manufacturing lies in the closure of factories in Europe and in the mass dismissal of employees. However, whether the GM to compete with the apparent policy of the President of France Francois Hollande? Or it would be like in the famous fairy tale: PSA Peugeot Citroen failed, Dongfeng, to which the French sought help earlier, failed, and GM ...? At the moment, PSA Peugeot Citroen provides 77,000 jobs to residents of France.
Now, however, talk about the making of any decision by the Americans early. Unequivocally that such will be made only after the parliamentary elections in Germany, to be held on September 22 this year. PSA Peugeot Citroen refused to comment the situation.
To summarize, we can say that if the French would agree to the conditions imposed by GM, then soon the markets of Europe will be Peugeot, Citroen, Vauxhall and Opel, built on a common platform and with the same motor scales. It would be nice, huh? And then, the French have so far not very successful: first, the ugly C-Cactus wanted to give life to his successor C3 is now the cause is taken no less «glamorous» Citroën 2CV. Well, well ...