Finance

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  • Newswire

    UPDATE 3-Peugeot cuts product line and costs in turnaround plan  

    * Peugeot targets 2 pct automotive margin for 2018 * CEO says firm to cut offering to 26 models from 45 * Pledges new programmes with tight lid on investment (Adds details, background) By Laurence Frost and Gilles Guillaume PARIS, April 14 (Reuters) - PSA Peugeot Citroen will nearly halve its product line and focus investment on new technology in an attempt to return to profit, the struggling carmaker's new boss Carlos Tavares said on Monday....More
  • Newswire

    Opel May Beat 2016 Break-Even Deadline, CEO Tells Journal  

    Karl Thomas-Neumann, CEO of General Motors' money-losing European unit, tells The Wall Street Journal he is sticking to his goal of breaking even by 2016 but doesn't discount the possibility of reaching profitability before then....More
  • Newswire

    Automaker Sollers' Owner Moving Registration Back to Russia  

    Following President Vladimir Putin's call for Russian companies to repatriate their assets to the country, Vadim Shvetsov moved his majority stake in the automaker from Cyprus-based Newdeal Investments to Moscow-based OJSC Erfiks....More
  • Newswire

    Austrian Investor Planning EV Battery-Production Facility  

    Michael Tojner, whose Montana Tech Components group already is working with Volkswagen on EV-battery development, hopes to build a production facility and says talks with German automakers are under way....More
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