The Local France

'I feel no guilt': French boss defends €2.5m salary hike

Fri, 29 Apr 2016 18:07:29 +0200

The boss of French car giant Peugeot Citroen insists a decision to double his salary to €5.2 million was entirely justified, despite the company cutting thousands of jobs.

Peugeot raided by fraud squad in emissions probe

Fri, 22 Apr 2016 10:21:51 +0200

French auto giant PSA Group, the maker of Peugeot and Citroen cars, said on Thursday its premises had been raided by France's anti-fraud squad as part of a probe into emissions.

Outrage after Peugeot chief sees €2.5m salary doubled

Tue, 29 Mar 2016 13:52:24 +0200

A decision by PSA Peugeot Citroen to double its chairman's salary to €5 million has sparked angry debate in France, with Finance Minister Michel Sapin on Tuesday qualifying the raise as "harmful".

French ditch home car brands for Italy's Fiat

Mon, 01 Sep 2014 18:57:00 +0200

French drivers are ditching their country's own brands in favour of Italian car company Fiat, figures released on Monday show.

French car industry sinks to lowest level in 15 years

Fri, 03 Jan 2014 10:03:43 +0100

There was bad news for the French car industry this week as new figures revealed it was at its lowest ebb in 15 years. Predictions for the year ahead are not too rosy either.

French CEO gives up €21m pension amid fury

Thu, 28 Nov 2013 09:37:00 +0100

The CEO of French car giant PSA Peugeot Citroen announced he was giving up his €21 million pension plan, just hours after news of the eye-watering golden parachute had caused uproar among unions on Wednesday. The French president said it was a "wise" decision.

Cost of French cars reaches record high

Fri, 22 Mar 2013 16:14:00 +0100

Cars in France are more expensive than ever before, despite the dire state of the country’s automobile industry, a new survey has suggested.

Peugeot suffers record €5 billion losses

Wed, 13 Feb 2013 09:38:00 +0100

Embattled French auto giant PSA Peugeot Citroen has announced a massive net loss of five billion euros for 2012, the worst result in its history.

French court 'suspends' Peugeot job cuts plan

Tue, 29 Jan 2013 12:53:00 +0100

A French appeal court has suspended a restructuring plan involving 8,000 job cuts at carmaker Peugeot Citroen as sought by the CGT union, the lawyer for the workers Fiodor Rilov said on Tuesday.

Peugeot blames crisis as sales plunge

Wed, 09 Jan 2013 13:50:00 +0100

French auto giant Peugeot, recently rescued by the government, reported on Wednesday a 16.5-percent plunge of sales last year because of problems in southern Europe and Iran and despite strong demand in Russia and China.

French carmakers hit again as sales dive

Mon, 03 Dec 2012 11:23:00 +0100

French new car sales plunged by 19.2 percent in November on a monthly basis and by 13.8 percent in the first 11 months of the year, data from the French automobile manufacturers association CCFA show.

Six year gloom forecast for Europe automakers

Wed, 10 Oct 2012 15:50:00 +0200

Sales by carmakers in western Europe will struggle for six more years to reach pre-crisis levels, the ratings agency Standard & Poor's said on Wednesday as Moody's downgraded its notes on Fiat and Peugeot by one notch each.

Car sales plummet as French slam the brakes

Mon, 01 Oct 2012 18:50:00 +0200

French car sales dropped 18.3% year-on-year in September, signalling more gloom for domestic firms struggling with plummeting demand in their key European market and high production costs.

Paris motor show opens to stalling European market

Thu, 27 Sep 2012 15:35:00 +0200

The Paris Motor Show opens with the automobile sector in crisis mode amid deep gloom over the future of the European market, key to the survival of several top manufacturers.

Peugeot and BMW break hybrid car partnership

Mon, 24 Sep 2012 19:07:00 +0200

French auto group PSA Peugeot Citroen confirmed on Monday that it was no longer collaborating with German luxury carmaker BMW on a venture to develop hybrid vehicle technology.

Peugeot workers march against job cuts

Thu, 20 Sep 2012 19:40:00 +0200

Hundreds of workers from PSA Peugeot Citroen demonstrated in central Paris Thursday to denounce the French auto giant's plans to shed 8,000 jobs across France.

Peugeot set to raise €800 million in Russian deal

Thu, 20 Sep 2012 12:31:00 +0200

French carmaker PSA Peugeot Citroen said on Thursday it was in negotiations to sell 75% of its logistics subsidiary Gefco to Russian railway firm RZD for €800 million ($1.04 billion).

French minister attacks Peugeot strategy

Thu, 19 Jul 2012 11:42:00 +0200

France's Minister for Industrial Renewal Arnaud Montebourg attacked PSA Peugeot Citroen's corporate strategy on Wednesday as he prepared to meet the carmaker's chief for talks on 8,000 jobs cuts.

Peugeot Citroen to cut 4,000 French jobs

Tue, 15 Nov 2011 11:49:00 +0100

French auto giant PSA Peugeot Citroen will cut at least 4,000 jobs in France next year as part of a wide-ranging cost-cutting plan, union sources said on Tuesday.

Peugeot Citroen to slash thousands of jobs

Wed, 26 Oct 2011 19:42:00 +0200

French auto giant PSA Peugeot Citroen on Wednesday said it planned to slash thousands of jobs in Europe as part of an €800-million cost-cutting plan amid a stagnating European car market.