GERMANY: GM Europe insists PSA Peugeot Citroen alliance "cast in stone" as merger rumours fly
Reports in France suggested PSA - which yesterday (9 January) posted plummeting vehicle sales last year down 16.5% to slightly less than 3m units - could table an offer for Opel - but the GM unit firmly rebutted such claims.
"Our official statement is this is pure speculation and nothing else," a GM Europe spokesman in Russelsheim told just-auto. "We just - prior to Christmas - announced the next step where we said we have signed definitive agreements for both purchasing and product developments so this has all been cast in stone.
"We have also said we would look into additional opportunities including engines, so we are in fact expanding it [the alliance]."
PSA has endured a torrid week with rumour after rumour circulating in France it could either merge with Opel or dispose of part of its stake in the component manufacturer Faurecia in which it holds a 57% stake.
That, coupled with the grim sales numbers posted yesterday - partly as a result of severely testing European economic conditions and the ending of completely knocked down (CKD) car exports to Iran - has sent the rumour mill into overdrive - and, although PSA's Paris HQ continued to refute the speculation, it stopped short of issuing a total rejection.
"We have no comments on the Opel rumours," a PSA spokeswoman in Paris told just-auto this morning.
This QUBE report from just-auto provides a comprehensive overview of the global transmissions sector, major suppliers, top markets, technology trends and market size forecasts. Use this report to gain...
Management reshuffle-the-deck at General Motors this week....
Urgent and concerted action needs to be taken to address the contentious issue of automotive over-capacity in Europe, but also in developing markets according to a study by KPMG....
Strong demand for trucks drove Canadian new vehicle sales overall higher in June though sales of passenger cars slipped compared with a year ago, data compiled by DesRosiers Automotive Consultants sho...
A spokesman for Dongfeng Motor has reportedly told a Chinese newspaper that the state-controlled firm has no comment to make over rumours of it buying into PSA Peugeot Citroën....
The labour union at GM Korea staged a partial strike for six hours on Thursday following failed talks with the management over wages and production plans....
Total light vehicle sales last month came in at just over 1.4m, 9.1% ahead of June 2012. That works out to a seasonally adjusted annualised rate (SAAR) of 15.96m, the highest since November 2007, the ...
- THE WEEK THAT WAS - Scion and Ford workers' chop
- F23 2 Series Convertible & future BMWs
- Analysis - Bull market for Lamborghini
- Q&A – Delphi Chief Technology Officer, Jeff Owens
- Interview with Harman Connected Car division
- New Ford plant for Mexico & Prius rival - report
- Auto vacancies due to UK skills shortage - report
- VW Group quality chief leaves
- Volvo nixes range extenders
- Geneva premieres list - Honda Civic world debut