Peugeot Citroën SA May Make GM Cars
Radio network RTL interviewed Peugeot Citroën SA CEO Philippe Varin who said his company may begin to product GM cars in Europe after 2016. GM took a 7% interest in Peugeot which brought the European firm much need capital. The plan may…
Radio network RTL interviewed Peugeot Citroën SA CEO Philippe Varin who said his company may begin to product GM cars in Europe after 2016. GM took a 7% interest in Peugeot which brought the European firm much need capital.
The plan may be a way for GM to move away from the expensive production facilities of its Opel division. This GM operation in Europe has lost money for five years. Part of the blame goes to the EU economy. Part goes to GM’s inability to product popular cars. Part goes to high labor and factory expenses
The new production plan will pit GM against powerful labor unions, and, perhaps, governments which want to keep layoffs from further increasing unemployment rates.
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