Peugeot to launch 6 new models by 2010

French auto manufacturer PSA has released plans to cut fixed cost by 30% by 2010. This restructuring plan called “Cap 2010” includes cutting cost by 600 million Euros, as well as bringing 6 new models to bring the total to 41. Rather than cutting models like other troubled carmakers, the idea it to launch a product offensive that will boost sales and profits.

PSA, Europe’s 2nd largest auto manufacturer behind Volkswagen, has already announced job cuts in the order of 4800 for 2007 due to the declining car sales in Western Europe. This follows after a hiring freeze in 2006 and the closure of the Ryton plant in England.

PSA boss Christian Streiff stated that Cap 2010 would allow the company to return to “growth and profitability”. This follows after three profit warnings in the past year.
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Lexus - 5/23/2007 9:34:01 PM

+2 Boost

Peugeot make some of the most beautiful cars in the world's, I wish they would bring them to the U.S. market.

France is a very beautiful country, good food, beautiful woman and of course beautiful cars as well.

neutral - 5/25/2007 12:52:10 AM

+1 Boost

Wow Lexus, I'm genuinely impressed with your class.