Peugeot predicts high profits

Viliyana Filipova — Fri, 05 Feb 2010 12:22:41 +0000

The biggest French car company PSA Peugeot Citroen announced that a loss of 1.16 billion euros after tax last year. Leadership expected to come out of operating profit in the first half of 2010, although the company will face serious challenges over the next few years forward Financial Times. The largest of them will be shrinking car market in Europe, according to the French group for the production of cars will fall by around 9% this year. To overcome this, Peugeot Citroen plans to market a new model by which to increase its market share. The net loss for the French company has tripled in comparison to the negative financial result of 363 million euros for 2008, its sales decreased by 7.2% yoy in 2009, which forced the company to seek more than 3 billion . EUR rescue assistance from the French state last year. The negative financial result of the first half of last year was positive in the second half thanks to government programs worldwide, including France, to stimulate purchases of new cars. Peugeot Citroen has a positive net cash flow In 809 million euros for 2009. Leadership trusts that the successful implementation of the plan for sales management, cost reduction and better utilization of capacity will support the company’s financial performance this year, along with the launch of new models on the market. Our presentation of the financial unit Banque PSA Finance also contribute to profit in the first half.
In 2009, Peugeot Citroen sold nearly 3.19 million vehicles, making it the second largest car company in Europe after German Volkswagen. The other big French automakers – Renault, will publish its financial results for last year on Thursday.

Opel predicts market expansion with 11 billion for five years

Viliyana Filipova — Thu, 04 Feb 2010 22:04:57 +0000

The German unit of U.S. car giant General Motors – Opel, will chase the expansion through an investment of 11 billion euros in the development of new cars over the next five years. The plan is part of a strategy to transform the company into a profitable within two years. This report by the leadership of GM, Air Force forward. From GM also reported that the planned reduction of 8 300 people in Europe and the closures in Antvertp. One of the main objectives of GM is to obtain approval of plans by European governments to be able to get vital loans to the company to become profitable again. At this stage the intentions of GM have been identified as “financially reasonable and realistic to achieve” an independent auditor, said the head of the company’s Europe, Nick Reilly.
The company is planning to create much more after that, if the financial operation is successful.

Financial Communique » leadership

Peugeot predicts high profits

Opel predicts market expansion with 11 billion for five years