PSA/Peugeot-Citroen may seek more cost savings and does not rule out capacity cuts in France after 2016 if they are needed to turn the struggling carmaker around, new CEO Carlos Tavares said.Tavares also pledged to accelerate a 1.5 billion euro ($2.1 billion) savings drive already underway at the company.
PSA expects to achieve positive free cash flow no later than 2016. “I am very confident we can pursue the turnaround of the company,” he said.
On the eve of the first press day for the 84th Geneva Motor Show, the new Peugeot 308 has been crowned as European Car of the Year 2014, by a jury of 58 journalists representing 22 European countries.
In total 30 new models, were competing for the 2014 ‘Car of the Year’ crown. To be eligible for the title, the model had to be on sale by the end of 2013.
Citroen plans to be the first automaker in Europe to offer a “pay-per-use” leasing scheme with the launch of the new C4 Cactus. The scheme mirrors plans offered by mobile phone operators.”The pay-per-use scheme will include a monthly lease rate plus an additional payment that will vary according to the kilometers driven in the month,” Citroen CEO Frederic Banzet said during a preview of the car last month. He declined to provide specific details, which will be revealed at the Geneva auto show on Tuesday.
Fiat or its Abarth performance subbrand are likely to get a roadster from Mazda instead of Alfa Romeo, sources say.Fiat and Mazda product planners plan to meet soon to discuss the potential badge change for the MX-5-based two-seat car, the sources added.
Alfa, which will debut a concept version of its planned 4C convertible at the Geneva auto show on Tuesday, was supposed to get the Japan-build roadster at the start of next year.
Honda announced that while the US model Insight will be available at dealerships in the US through the end of the year, production of the hybrid will end in summer 2014.
