#France
Algerian Government Rejects French Offer Of PSA Stake, Seeks Renault's Love
The fate of PSA and the Algerian people has been intertwined for decades. The group’s Aulnay plant, which is due to close, was originally staffed by immigrants from North Africa, lured by the promise of a better life and secure jobs in France. And while Peugeot sales withered in France, the brand has been traditionally strong in North Africa, with 2011 bringing a 93 percent increase in sales for Peugeot.
But Algeria’s push for a domestic car industry doesn’t seem to include PSA. Arch-rival Renault is due to set up a factory in the country, but PSA has apparently rejected overtures from the French government to take a stake in the ailing car maker.
Renault-Nissan Working On Really Low Cost Car
Last week, when talking about Volkswagen’s future $10,00o low-cost car, we said that “is rumored to work on something that costs about half.” Guess it is no longer a rumor. Reuters writes that Gerard Detourbet , the man behind Renault’s Logan program, is in Chennai, India, to work on a real budget car, costing about half of Volkswagen’s targeted price. India is the battlefield for low-cost cars. And that’s not because of Tata’s Nano.
Peugeot Kills More Jobs
Peugeot will eliminate an additional 1,500 French jobs by 2014, bringing the previously announced 8,000 layoffs close to 10,000, PSA managers told union representatives yesterday.
Renault-Nissan In Charge At Russia's Largest Carmaker
With the stroke of a few pens putting signatures under a contract in Moscow today, then Renault-Nissan Alliance has become Russia’s largest automaker. The Alliance took control of AVTOVAZ, maker of the market-leading Lada brand. Lada holds 30 percent of Russia’s rapidly growing car market.
In The Land Of Wagons, The Compact Crossover Is King
Despite being attacked in some circles as symbols of American decadance, the compact crossover is rapidly gaining in popularity. French business outlet La Tribune reports that sales of small crossovers are up 25 percent this year, with crossovers of all sizes now accounting for 10 percent of the car market.
TTAC Salutes The Citroen C6 – RIP
Today is a sad day for TTAC’s French car fans – the last Citroen C6 rolled off the assembly line, ending a proud tradition of French luxury cars that fought a losing battle with the Germans for segment supremacy.
GM, PSA Suspend Talks
General Motors and PSA have put the brakes on talks regarding a broader alliance after PSA accepted financial assistance from the French government to help its ailing financial situation.
PSA's Low Cost Efforts Bear Fruit
PSA is looking to challenge Renault-Nissan’s dominance of the low cost car segment with a new sedan branded as a Peugeot.
Renault Takes On French Unions, Unions Incensed
Renault opened negotiations on a new labor deal for France with a big squeeze, Reuters reports. Renault wants pay and working time concessions from its French workers. If Renault doesn’t get a good deal, jobs could go elsewhere.
Renault And Caterham Join Forces, Resurrect Alpine
For a while, TTAC has been following rumors that Renault may be reviving is storied Alpine brand. Renault will do it, together with another motor celebrity, Caterham.
Renault Shows A New Fluence
Renault shows a facelifted Fluence at the Istanbul Motor Show, November 2-11, 2012. The car receives a new 1.6 16V 115 hp gasoline engine mated to a likewise new X-Tronic CVT.
Le Bailout: Ford Is Against It
Stephen Odell, CEO of Ford Europe, thinks that state aid of ailing carmakers is a dead-end street.
Le Bailout Watch: Peugeot Saved By French Government
Europe’s second-largest automaker and GM alliance partner PSA Peugeot-Citroen is being saved from the brink for the time being. PSA is putting the final touches on an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing, in addition to 7 billion euro ($9 billion) in government guarantees for its captive financing arm Banque PSA Finance, Reuters says.
Le Bailout Watch: France To Save Peugeot, Germans Say Verboten
The French government will provide multi-billion euro guarantees to GM’s alliance-partner PSA Peugeot-Citroen via PSA’s banking arm, Reuters says. Don’t bet on it happening: There is already opposition from Germany, and wait until Brussels officially hears of the deal.
EU Denies French Requests To Monitor Korean Auto Imports. GM Relieved
The EU sent a warning shot across the bow of protectionist France. Brussels refused France’s request to monitor car imports from South Korea. According to the Wall Street Journal, import surveillance could have been Europe’s first step toward blocking or reversing tariff cuts instated by a free trade deal between the EU and Korea.
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