On Its Beggathon, PSA Bypasses Fiat
July 2nd, 2013 12:39 PM
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France’s PSA has been all over the world with hat in hand, looking for a charitable donation that may keep the carmaker alive a little longer. Things are so dire that it is news when PSA does not ask a carmaker for a donation. That carmaker is Fiat, itself short of funds.
Asked by Reuters if he had held talks with the Peugeot family, Fiat Chairman John Elkann said: “No.” However, Elkann made indications that he might take Peugeot if it’s really, really cheap:
“As we’ve said before, certainly if we were presented with an interesting opportunity, we would be open to considering it,”
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Maybe he's waiting until he can get it for free, like he did Chrysler.
Don't know why anyone would want it before a bankruptcy, dealing with the UAW in BK would have to be like a walk on the beach with bo derick in comparison to dealing with the french equiv. of a still breathing company. You wouldn't want the factories/capacity (actually you would want to keep as little as needed open in france to not lose french marketshare, which is all PSA is really worth), getting chryco was a way to save fiat auto, taking PSA (as a going concern) would be the opposite.
I may be a minority (of 1?), but I like Citroens and would hate to see them really change. They seem to understand that a luxury automobile does not need to be "sporty". If I am going to buy a car that can seat 4 or even five in supreme comfort, I want it to be supreme comfort. Not just comfortable until I hit a pothole then whip into a 0.9g turn with the tail hanging out because the car is really trying to be something it is not.
Liken PSA to a yard sale with bedbugs. Remnant Chou En-lai folks in the party may hold a whiff of sentiment for the Peugeot brand. If Fiat bites does this mean a rebooted 404 for US shores?