Main » 2012»July»2 » PEUGEOT OWNERS WANT TO DISMISS THE MANAGEMENT COMPANY DUE TO FALLING SALES.
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PEUGEOT OWNERS WANT TO DISMISS THE MANAGEMENT COMPANY DUE TO FALLING SALES.
The largest shareholder of the French auto group PSA Peugeot Citroen-Peugeot family demands dismissal of Executive Director Philip Varena. He is accused of falling sales and the failed Alliance with General Motors. Varennes, who headed the company in 2009, was a supporter of expanding global presence of PSA. It was believed that he advocated the expansion of the Alliance with GM. The Peugeot refused to comment on this post. But the company's shares soared to 6.54%. Since the beginning of this year have fallen by 24 quotes PSA%. In March, the company has shown a drop in sales. And at the end of last year, it was announced that future layoffs. As we have informed, in the first quarter of 2012, PSA Peugeot Citroen, revenue decreased by 7% compared to similar quarter last year and $ 14.29 billion euro (Q1 2011-15.41 billion euros). Global sales team Peugeot Citroen in January-March this year, fell at an annual rate of 14.2% to 790.1st. cars. The company noted that sales fall looks great against the backdrop of an unusually high figure for the first quarter of the previous year (921.4th.), when Europe still had public support measures for the car market. PSA Peugeot Citroen is the second largest in Europe after the German carmaker Volkswagen. The Group also includes Bank Banque OU road PSA Finance, automotive components supplier Faurecia and Gefco logistics operator, specialising in automotive cargo. The family Peugeot 25.2% and 37.9% of votes. General Motors is the second largest shareholder by. He had 7%. The case of both companies in Europe are not the best. Due to the debt crisis of demand for their products fell sharply, however, 2016, they hope to reduce costs through synergies. In February 2012, Peugeot Citroen and the American auto giant General Motors (GM) announced the formation of a strategic alliance under which GM acquired a 7 per cent share in the authorized capital of the French company. To create an alliance called the competitiveness in Europe. The Alliance, according to the report, based on the exchange of car platforms, components and modules, as well as the creation of a joint venture to search for products, components and other services from providers with combined annual sales of about 125 million dollars.
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