Sunday , July 25 2021

PSA wants Fca – Mondo Auto

Number One on PSA opens the door for extraordinary operations, and investors immediately pay attention to the Fca, whose shares are up, even if they earn only 0.13%, reaching 13.8 euros. At the meeting of the members of the French Automobile Group, the Chief Executive Officer, Carlos Tavaressaid: "We are working on our strategic plan and our direction is clear, we have achieved excellent results and thanks to them we are able to evaluate and capitalize on the opportunities if presented, as we have done with Opel Vauxall."

The manager, however, pointed out that Psa does not address any particular company (the shareholder specifically mentioned Fca) and that the size of the possible merging partner is not a major factor. "Size is an important, but not a necessary factor," Tavares said, "the main aspect is efficiency." Instead, according to some analysts, the size of Fca and Psa will be an asset in favor of a possible merger: the two houses will reach annual output of about 8.5 million vehicles, about 10 from Volkswagen.

"We intend return to the US market p Peugeot to stay for a long time, and for that we will move with prudence"Said Psa General Manager Carlos Tavares, answering a question at the shareholders' meeting."We are aware of the risks of such a competitive market Tavares said, and that is why we will act cautiously because we do not want to start with too many expectations and investments and then change the course a few years later. We created a small team of about fifteen people in Atlanta to prepare Peugeot's return to the US market.

Tavares explained that as far as supply is concerned, the group will rely on its plants in Europe and China. "We are following the development of the issue of customs tariffs that the US will impose on car imports in the country," Tavares said, "and we will therefore assess accordingly." As for the sales network, Tavares explained that the group does not intend to focus on a large network of dealers but will rely on brand awareness and online sales which allow for the limitation of the necessary investments.

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