PSA Peugeot CEO aims to cut costs, win market share

Newswire

PARIS, May 23 (Reuters) - Christian Streiff, the new chief executive of French carmaker PSA Peugeot Citroen , said on Wednesday he was targeting cost cuts as part of a plan to help the company win back market share lost in Europe where it once was 15.5 pct Streiff told reporters that PSA aimed to cut its fixed costs by 30 percent by 2010. It also planned to cut its purchasing costs by 6 percent a year, up from a previous 4 percent target. "The working groups have found areas of savings ...

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