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Big Car Plant Closure Shows Europe Woes
Keywords:
Peugeot plans to shut down its plant at Aulnay-sous-Bois near Paris in 2014. About 3000 jobs will be lost at the plant. In all Peugeot plans to cut 8500 jobs, about 8% of its workforce in France. Peugeot says the pace of losses is unsustainable, with Peugeot losing 200 million euros in cash each month, putting the entire enterprise in peril. This also raises more questions about France's competitiveness as 400,000 manufacturing jobs were lost in the last ten years according to government data. Peugeot is seeing declining sales because of slowing sales in southern Europe, a critical market for Peugeot. Overall capacity utilization for Peugeot dropped from 86% in 2011 to an average of 76% in the second half of 2012, with sharper declines in the small car segment on which the company has focussed. The Aulnay plant produced 300,000 cars 2007, by 2011 this came down to 135,000 cars. Peugeots strategy of making smaller economy style cars with higher French labor costs presents a challenge say analysts, and its slower move into Asian markets has not given it the advantage enjoyed by German manufacturer VW. In addition to the 3000 jobs lost at Aulnay, Peugeot plans to cut 1400 jobs at its Brittany plant in Rennes, and 3600 corporate jobs. To assure unions the company will build a new car at the Rennes plant in 2016, and could move 1500 jobs from Aulnay to another plant near Paris.
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Peugeot Still Having Trouble Turning Corners
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Peugeot to Weigh Capital Injection From Dongfeng
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Peugeot Still Having Trouble Turning Corners
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Peugeot to Weigh Capital Injection From Dongfeng
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Grouped Articles
GM to Sell Entire 7% Stake in Peugeot
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GM Limited to a French Connection
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Competitiveness of France- lessons from the German experience of labor-industry and government cooperation 2000-2010
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Grouped Articles
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France's manufacturing competitiveness
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France's automobile market 2011-2015
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Car sales in France.
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Car Sales Fall Sharply in France and Spain
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Peugeot-Citroen
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VW, Peugeot Citroën Weigh China Brands
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Peugeot Hit Hard By French Auto Sales Decline
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French Car Sales Herald Downturn
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Auto Maker Peugeot-Citroën Picks Airbus Ex-Chief as CEO - WSJ.com
Wall Street Journal 11/08/2006
Peugeot-Citroen strategies
11/08/2006
Grouped Articles
European Pain Relief For GM and Ford
Wall Street Journal 05/20/2013
Peugeot Considering Unloading Part of Banque PSA
Wall Street Journal 07/19/2013
Peugeot Still Having Trouble Turning Corners
Wall Street Journal 08/28/2013
Peugeot to Weigh Capital Injection From Dongfeng
Wall Street Journal 10/14/2013
Wall Street Journal 11/26/2013
Peugeot Closes In on Capital Boost
Wall Street Journal 01/21/2014
Peugeot management
01/13/2012
Grouped Articles
Peugeot Considering Unloading Part of Banque PSA
Wall Street Journal 07/19/2013
Peugeot Still Having Trouble Turning Corners
Wall Street Journal 08/28/2013
Peugeot to Weigh Capital Injection From Dongfeng
Wall Street Journal 10/14/2013
Wall Street Journal 11/26/2013
Peugeot Closes In on Capital Boost
Wall Street Journal 01/21/2014
Investors Eye a Bumpy Ride From Peugeot
Wall Street Journal 01/20/2014
Peugeot-Citroen India
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Grouped Articles
UPDATE: Peugeot-Citroen To Invest EUR650M In Indian Assembly Plant
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Peugeot Considers Forging Broader Alliances
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Big Car Plant Closure Shows Europe Woes
Wall Street Journal 07/12/2012
Peugeot-Citroën Cuts Into French Hopes
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Peugeot to Cut 8,000 Jobs and Close Plant in France
New York Times 07/12/2012
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Wage flexibility by labor unions in France as part of an effort to improve competitiveness and reduce unemployment
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Grouped Articles
Wall Street Journal 05/29/2013
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New York Times 12/10/2011
A Proud Nation Ponders How to Halt Its Slow Decline
New York Times 08/24/2013
Americanized Labor Policy Is Spreading in Europe
New York Times 12/03/2013
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
Car sales in Spain 2011-2015
01/03/2012
Automobile market in Spain.
Grouped Articles
French Car Sales at 16-Year Low
Wall Street Journal 07/02/2013
European Car Recovery Could Still Sputter
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Car Sales Fall Sharply in France and Spain
Wall Street Journal 01/03/2012
Spain's Budget Cuts Trigger Downturn
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More Bad News for Midprice Carmakers in Europe
New York Times 03/04/2012
Spain, Pursuing Austerity, Still Waits for the Payoff
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France's economy in 2010-2014
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The determination in France, as in Britain, to take austerity measures, and to cut the deficit.
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Peugeot and the prospects of aid from the French government
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Linked Articles
Peugeot-Citroën Cuts Into French Hopes
Wall Street Journal 07/12/2012
Big Car Plant Closure Shows Europe Woes
Wall Street Journal 07/12/2012
The challenges facing Peugeot Citroen with its focus on low-cost small fuel efficient cars and the high labor costs in France
04/16/2012
Linked Articles
Big Car Plant Closure Shows Europe Woes
Wall Street Journal 07/12/2012
Wall Street Journal 04/16/2012
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