RüsselsheimThe goal that PSA has spent on the German brand is clear: By 2020 at the latest Opel make a profit again. The French do not want to reveal how high the losses of the German brand were in the past financial year. “We have no figures on a full-year basis,” said PSA CFO Jean-Baptiste… Continue reading Michael Lohschneller: Opel boss explains his savings plan – “It can not go on like this”
Tag: Financial Results
Opel loses again
Even under the new owner PSA makes the car manufacturer Opel loss. With 179 million euros, the half-year minus was indeed lower than expected, the Opel boss still sees a signal that it could not go on like this. Thursday, 01.03.2018 08:57 clock Heard since last year Opel to the French PSA Group and has… Continue reading Opel loses again
CORRECTED-Peugeot hits new earnings record despite Opel loss
PARIS (Reuters) – PSA Group (PEUP.PA) shrugged off losses at the newly acquired Opel division to lift sales, profit and operating margin to new records in 2017, the French carmaker said on Thursday. The maker of Peugeot, Citroen, Opel and Vauxhall cars said net income rose 11.5 percent to 1.93 billion euros ($2.35 billion) on… Continue reading CORRECTED-Peugeot hits new earnings record despite Opel loss
Historic Results of Groupe PSA In 2017: Revenue, Volume of Sales, Recurring Operating Income and Net Result Group Share at a Record Level
RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News : Groupe PSA (Paris:UG) : Carlos Tavares, Chairman of Groupe PSA Managing Board said: « Peugeot Citroën DS outstanding results, making significant progress for the 4th year in a row, are the proof of our ability to deliver a profitable and sustainable growth. Our agile, customer focused and socially responsible approach is making… Continue reading Historic Results of Groupe PSA In 2017: Revenue, Volume of Sales, Recurring Operating Income and Net Result Group Share at a Record Level
UK car industry must be at the heart of Brexit negotiations, say MPs
Automotive industry Investment and thousands of jobs could be lost in booming automotive sector, committee warns The BEIS parliamentary committee warns that car manufacturing in the UK could face frosty investment conditions after Brexit. Photograph: Ian Horrocks/Getty Images The UK government must put the car industry at the heart of Brexit negotiations or risk the… Continue reading UK car industry must be at the heart of Brexit negotiations, say MPs
Ballard Receives LOI For 40 Fuel Cell Engines To Power Van Hool Buses in Germany
Largest order ever for fuel cell buses in Europe Indicative of growing European interest in fuel cells for use in heavy duty transportation applications VANCOUVER and KONINGSHOOIKT, Belgium, Feb. 28, 2018 /PRNewswire/ – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced it has received a Letter of Intent (“LOI”) from Van Hool NV (“Van… Continue reading Ballard Receives LOI For 40 Fuel Cell Engines To Power Van Hool Buses in Germany
Volvo Cars launches investment fund aimed at technology start-ups
Volvo Cars launches investment fund aimed at technology start-ups Volvo Cars, the premium car maker, has launched a new investment fund aimed at investing in high potential technology start-ups around the globe. The aim of the Volvo Cars Tech Fund is to invest in strategic technology trends that are transforming the industry, such… Continue reading Volvo Cars launches investment fund aimed at technology start-ups
UAW trust move puts GM board seat at risk
Former UAW Vice President Joe Ashton (Photo: General Motors Co.) The United Auto Workers’ retiree health care trust intends to sell 40 million of its shares in General Motors Co., imperiling the trust’s ability to replace retired UAW Vice President Joe Ashton on the automaker’s board of directors. The UAW Retiree Medical Benefits Trust —… Continue reading UAW trust move puts GM board seat at risk
Exclusive: GM Korea to sharply cut number of executives – internal letter
SEOUL (Reuters) – General Motors’ South Korean unit plans to slash the number of its executives, an internal letter seen by Reuters showed – the latest step by the U.S. automaker to cut costs and restructure the loss-making business. GM said this month it would shut one of its factories in South Korea and decide… Continue reading Exclusive: GM Korea to sharply cut number of executives – internal letter
Geely Held Informal Talks With Fiat Chrysler Before Daimler Deal
Zhejiang Geely Holding Group Co. held informal talks about the potential takeover of Fiat Chrysler Automobiles NV before the Chinese manufacturer turned its attention toward Daimler AG, according to people familiar with the matter. Li Shufu, the Chinese billionaire who controls Geely, approached the Italian-American carmaker in the middle of last year as he was… Continue reading Geely Held Informal Talks With Fiat Chrysler Before Daimler Deal