If you look at half year sales in Europe, then you see Renault as the worst performer of the volume makers. With EU sales down 17.09 percent, the Renault Group took a bigger hit than European patients Opel (- 15 percent) and PSA (-13.9 percent). Even troubled Fiat was doing better than Renault, by a hair (-17.08 percent for Fiat.) Whereas the percentages carry the smell of death, Renault’s half year results smell downright rosy. Read More >
Your humble author is TTAC’s resident cycling enthusiast, as shown in the eminently regrettable photo above which can best be titled “35-Year-Old Man Takes Mountain Bike To Skatepark For No Good Reason.” When I was younger, I had unveiled contempt for people who drove somewhere when they could ride. Three knee surgeries and a child later, I’m not so sure. Still, cycling is gaining momentum across Europe in precisely the same way that the economy isn’t. The public-bicycle scheme in Paris, Velib, now profitably shares 23,000 public bicycles across a subscriber network of 225,000 people — and the electric-auto-sharing service which has been operating for over half a year now looks to be headed for similar success. The implications regarding private and public property raised by both services are worth discussing.
Europe’s second-largest car maker and GM alliance partner PSA Peugeot Citroen ended the first half of the year with its auto division 662 million euro ($800 million) in the reds, Reuters says. Read More >
Yesterday, we talked about the odd occurrence of Toyota if not saving the hide of GM’s new partner PSA Peugeot Citroen, then at least keeping one of PSA’s plants from being closed. This by having vans made by PSA for the European market, instead of shipping them from Japan.
When we wrote that, TTAC correspondent th009 rightfully questioned why in the world does Toyota order a van from PSA if they have a Hiace. Correspondent felix offered the explanation that due to its “cab-over configuration, the Hiace won’t meet European frontal impact crash standards.” This sounded like a logical explanation, until from Finland, correspondent Perc offered a resounding “mitää???”, explaining that the Hiace has been a big success in Suomi. Finland has the same safety standards as all on Europe.
So, what is it then? Read More >
While France’s new leftist government mulls a new “drive French” plan and makes threatening gestures in the direction of French car makers that dare to do something about overcapacity, in an odd change of events it is a Japanese company that will prevent a much anticipated plant closure at PSA Peugeot Citroen. Read More >
PSA Peugeot Citroen’s Chairman Thierry Peugeot lashed out against what he calls “evil attacks” by the new leftist French government and its industry minister Arnaud Montebourg. He also raised a specter that makes any patriotic politician sit up and listen: Hostile takeovers. Read More >
Patrick Pelata is leaving Renault. This a year after the former Chief Operating Officer took the fall over the spy scandal. Read More >
The Peugeot family is on war footing with the French government. It “hit back at suggestions by a government official that its members have favored their own financial interests over the development of the family-controlled auto maker,” says the Wall Street Journal. Basically, the family followed the line of argument suggested by TTAC. Read More >
The Peugeot family will receive an invitation from French industry minister Arnaud Montebourg, but not for tea and cookies.
The minister “plans to summon members of the Peugeot family to explain why the car maker had continued to pay dividends even as it was facing mounting difficulties,” Reuters says. Read More >
Newly elected French socialist President Francois Hollande told GM’s partner PSA Peugeot Citroen to renegotiate a plan to lay off 8,000 workers. However, Hollande admitted he could not halt Peugeot. Hollande promised government money to “encourage consumers to purchase French-made, environmentally friendly cars,” Reuters reports. Soon he will admit he cannot do that either. The “French made” part is sure to get his government in trouble with the EU. Read More >
The new energy relationship between PSA Peugeot Citroen and BMW is just about done now that BMW and Toyota intensified their cooperation. An Opel executive dashed hopes that the French will be able to use GM technology instead. “The honest answer is I can’t imagine that,” Opel development chief Rita Forst told Reuters, when asked if the two companies would share green car technology. Read More >
GM got itself a great new partner. Global sales of PSA Peugeot Citroen, the besieged company that is now 7 percent owned by the General, dropped 13 percent, Reuters says. PSA’s European sales dropped 15 percent, which illustrates how much PSA’s ill fortunes are tied to those of Europe. Read More >
What car does Albert Alexandre Louis Pierre Grimaldi a.k.a. His Serene Highness Albert II, Sovereign Prince of Monaco drive? He drives a Prius.
Today, he switched it for a plug-in hybrid Prius. The minute the first plug-ion hybrid was available in Europe, Toyota shipped it to Monaco as a two month loaner. Read More >
The folks at Toyota have been complaining about the low euro and the strong yen long enough. Now, they are putting the low Euro to work. Starting in May 2013, Toyota will ship its Toyota Yaris from Toyota’s Onnaing-Valenciennes plant in France to the United States, Canada and Puerto Rico. Read More >
Less than a week before Nissan’s stockholder meeting on the 26th at the Pacifico in Yokohama, Carlos Ghosn’s inner circle in Paris and Yokohama finds itself chasing a warmed-over rumor. Today, Bloomberg writes that “Chief Executive Officer Carlos Ghosn is considering stepping down before the company’s next mid-term business plan begins in about five years.” A source close to Ghosn calls it “absolute nonsense and a yawner.” Read More >
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