An industry analyst has written an open letter to PSA/Peugeot-Citroen Chairman Thierry Peugeot urging him to scrap a planned capital tie-up with China’s Dongfeng Motor and raise capital in other ways.”We see a risk of a Pyrrhic victory,” Max Warburton, an analyst with Bernstein Research, writes. “The Dongfeng deal will close out strategic options,” and the involvement of the French government and the state-backed Chinese automaker “is hardly likely to lead to improved efficiency, competitiveness and growth,” the letter says.
Daily Archives: February 18, 2014
Mazda plans small SUV, report says
Mazda Motor Corp. may be the next entrant into the small SUV segment. A Mazda2-based crossover is due later this year, a Japanese report said.The vehicle would be timed for this summer’s expected redesign of the Mazda2, Japan’s Nikkei business daily reported Feb. 16, without saying where it got the information.
New scheme lets drivers rent their cars out
Car owners can now make money by renting their vehicles when they’re not being used, using a new car rental scheme. The ‘easyCar Club’ venture lets drivers advertise their cars and matches them with people looking to rent a car for a short period.
Fiat Chrysler Automobiles reveals new name, logo
Earlier this month, Fiat purchased the remaining 41% of Chrysler, the American car company it has held a majority stake in since 2009. During this time, the two logos have appeared side-by-side on relevant forms of communication.
Overseas embassies in London refuse to pay £77m on Congestion Charge
More than £75 million in Congestion Charge fees is owed by London’s foreign embassy staff who refuse to pay it. The staggering figure is revealed in a report which names and shames 71 countries which have each racked up debts of more than £100,000 since the scheme launched in February 2003.
