Monday, 10 July 2017

Peugeot Family Lose Control Of PSA

Dongfeng electric vehicle. They need design help badly

For over a hundred years, the Peugeot's have run their family business. It has just lost full control of the company, subject to shareholder approval. It will give the Peugeot family, the French government and Chinese firm Dongfeng equal control. PSA has been losing billions of Euros each year.

The good: It will bring a much needed cash injection, giving it a lifeline for survival and then potentially revive both car brands, Peugeot and Citroen. Peugeot already has a joint venture with Dongfeng, so that can be developed.

The bad: The French government wants to use its share to protect workers in France. Understandable, but if that is at the expense of necessary downsizing, it will affect any revival. Further to that, getting three parties to move together is not ideal.

The summary: I ask myself "Would I buy a Peugeot or a Citroen?" No way. Too many feel the same as I do. Something needs to get PSA products on people's shopping lists more often. The way things are going, it wouldn't be around much longer.

The Peugeot 3008.  Maybe things aren't so black now

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