Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    GM wants to shift some Peugeot production: report

    General Motors, which holds a 7 percent stake in French carmaker PSA Peugeot Citroen, wants it to shift some production to US auto company's troubled German unit Opel, a German daily reported.

    In an internal production plan GM wants production of the Citroen DS5 and the Peugeot 508 shifted to Opel's Ruesselheim factory in Germany, the Frankfurter Allgemeine Zeitung reports in its Saturday edition.

    A Peugeot spokesman told FAZ the report was speculation, noting that GM and Peugeot are still working out how the alliance they agreed to in February will actually work.

    European carmakers, including Peugeot and Opel, are under intense pressure to eliminate their overcapacity.

    But with growth slowing in the eurozone, job cuts will become even more politically difficult and shifting jobs between countries a possibly explosive issue.

    Peugeot's, which lost 819 million euros ($1 billion) in the first half of this year, announced in July that it intends to cut 8,000 jobs.

    GM suffered $656 million in losses in Europe in the first half of the year.

    Opel adopted in June a huge restructuring plan, but so far unions have succeeded in keeping the company from cutting jobs and closing any factories despite GM officials that must be the focus of talks under way.

     

    37 comments

    • Tony  •  1 day 23 hrs ago
      I,ll continue to haul my harley in my F150............
      • William 1 day 9 hrs ago
        GM, Ford, and Chrysler can't do much here because the unions are killing them financially.....however, most of the good aftermarket stuff is made in the good ole' USA...who REALLY wants a factory-stock motorcycle or truck anyway? Its lame.
      • Tony 1 day 19 hrs ago
        good one karl
      • KarlD 1 day 19 hrs ago
        What is it doing in the bed?
    • Lorthog  •  1 day 20 hrs ago
      Peugeot...Isn't that French for "Monsieur, did you know your car is on fire?".
      • Radioflyer 1 day 19 hrs ago
        Too Funny!!!
      • Eðulf 1 day 20 hrs ago
        No, I believe it's how the French say 'winner of more WRC manufacturer's titles than you can shake a stick at'.

        Between Peugeot and Citroen they've won eight of the past ten titles.
    • unrattled_snake  •  1 day 22 hrs ago
      Why not let the muslims build the Pewgot? GM needs to abandon Germany.
      • Eðulf 17 hrs ago
        They wouldn't blow them up. They just wouldn't ever unveil them to the public.
      • Tony 1 day 21 hrs ago
        because the musi would blow them up as fast as they build them.
    • Brandon Morrison  •  Columbus, Ohio  •  1 day 21 hrs ago
      this is going to happen more and more and the businesses need to act before it hits the fan. The last 4 years have shown people all over the world that we were living and spending at a rate that is not sustainable and people are now starting to live within their means. It may not have been a permanent change had this mess not lasted so long, but it is now a way of life for most of us. Whereas some of us traded in our cars every 2 years, we are now keeping them for 4 or 6 and the same with other things like clothing and gadgets. We will never fully stop shopping, but the world is slowing its consuming down as people from all countries are seeing that their governments really do not have a plan if it all tanks. The auto companies and others should take note and start to plan accordingly otherwise in another 4 years, they will be scrambling or worse, they will be liquidated.
    • SWFlyer  •  1 day 23 hrs ago
      Wow, GM has a 7% stake in Peugeot, and they think they own the place. We can say goodbye to another company thet GM "touched"!
      • mike p 1 day 22 hrs ago
        Think the word was "torched"
      • Paul Revere Deux 1 day 23 hrs ago
        oui !
      • Eðulf 1 day 23 hrs ago
        The French have survived invasion before. If I was a GM executive, I wouldn't drink from the coffee decanter. Vive la Résistance!
    • Joey  •  2 days 0 hrs ago
      I can't believe GM can be a major sponsor of the Olympics before paying off their debt to the American taxpayer. It appears as though GM's reverting back to the days of the 80's when they mass-produced junk while advertising the heck out of it.
      • M W CHRISTOPHERSON 1 day 12 hrs ago
        Sorry Pal~this GM Bailout was all about control~and croynism~they shoulda had to go through Bankruptcy just like everybody else~I have a 1952 Packard Mayfair Convertible~very fine well styled car~a hit at every show~Despite being flush w/cash in 1950 they were bankrupt and gone by 57~why didn't the gov bail them out~if money is nothing and the debt doesn't matter as you say~then why collect any tax???
        Go on down and ask for for free BMW~people in heck want icewater too
      • Neil 1 day 13 hrs ago
        The problem is they aren't going to stop at 16 trillion. The budget will never be balanced ever again so instead of people blaming GM for the problem that was back in 2009 they should be pointing the finger at current military industrial complex and social programs ie food stamps/welfare thats going to break the country far worse than the bailouts.
      • M W CHRISTOPHERSON 1 day 21 hrs ago
        Because banks and aig also have corrupt people it's ok to screw over everybody~makes sense to me~you must be a liberal arts guy ~ I think thats ethics 101 in liberal arts school these days! Were you the fourth or fifth guy to rape that girl~well gee those other four guys did it too~
        your problem is its backed by the people of the united states of america~i'm 72 years old~have maybe nuff tp make another 15 years~so I know I ain't gonna pay it back~GM yook it~why shud I have to pay any of it back~
        With your line of reasoning~heck~why stop at 16 trillion~why not 86 trillion~yea~now we are talking~
    • Tony  •  1 day 17 hrs ago
      i wouldnt take business advice from these clowns,,,,plus put your money where your mouth is and start producing in the U.S.A
    • MoBob  •  2 days 0 hrs ago
      "GM suffered $656 million in losses in Europe in the first half of the year."
      Well, this will all be corrected by the hundreds of millions of our money they spent to get their names on some shirts...
    • danny strong  •  2 days 0 hrs ago
      GM is just trying to avoid union problems in the more-unstable France. This attitude might be embarrassing to the Administration (who must have approve it) -- but then, US unions don't give a toss about French unions, so all is well.
    • Hacksaw  •  1 day 23 hrs ago
      GM is still suffering from it blunders from the past, to the point a number of people will not consider a new GM vehicle. Diesel motors that died way before when they should have, transmissions that needed years of updates to make them last a reasonable time, paint that comes off while washing the car... ...does anyone listen to customer feedback there?
    • TOMORROWS HERE  •  Phoenix, Arizona  •  2 days 0 hrs ago
      Looks Like GM will file Bankruptcy in Europe to!
    • Captain Spaulding  •  Tafton, Pennsylvania  •  1 day 23 hrs ago
      GM has been tied up with Opel since the 60's as a matter of fact many of the new GM chassis are Opel chassis including the new Epsilon.How they got tied up with those French cars is beyond me,even the French won't buy them.They both look like more Saab's to me,another car maker GM destroyed
    • almostnuts  •  1 day 23 hrs ago
      We are not talking about the company that was privately owned a few short years ago. We are talking about a nationalized car company, government owned and operated. The banks were put on notice this week if they need another bailout, they will be nationalized as well. Its Ethiopia on a larger scale. The government owns/controls farmland, industry, communications, water, energy, food, medical facilities/distribution, import, export, and the rest I can't recall, might just say everything. Stay tuned, when you recover from your comatose state, you can ask how we got there. Its okay, though, you didn't need to own anything anyways, matter of fact I am going next door right now and use my neighbors toothbrush, since it really isn't his, hey get on board, Marxism isn't so bad unless your friends treat you low down, might try that newly issued government toothpaste as well. Just remember when you grow your own food, that you give the rest for government distribution, and keep yourself on the verge of starvation like the rest of the population. Get used to it, get over it, or change it. I'm in.
    • Richard  •  Philadelphia, Pennsylvania  •  2 days 0 hrs ago
      GM is pizzing away monies on advertsing, esp @ Olympics, and that failure, the Chevy Volt. Hey GM, how about paying back that 51 Billion you owe us taxpayers ? Never happen, GM sleeps with Obama
    • Kascha_Kwan  •  Atlantic City, New Jersey  •  1 day 21 hrs ago
      I wonder if Barack Insane Hussein Obomination plans to bail out GM again after they go belly-up in the coming recession ? Yes, there will be another recession because what is happening in Europe will definitely affect the United States very soon .
    • Weto  •  Albuquerque, New Mexico  •  2 days 0 hrs ago
      It will be in China very soon !
    • FEDUP  •  1 day 23 hrs ago
      Peugeot was a piece of junk in the USA, that is why they arent sold here anymore, it figures that GM would own a part of that loser of a car!
    • pd  •  1 day 22 hrs ago
      If they had followed Rooney's plan, the company would have reorganized without the crippling union contracts and would have been give a much better chance of seeing real profits.
    • .  •  2 days 0 hrs ago
      The unions will put GM right back in the red.
    • Semellyecoli2  •  2 days 0 hrs ago
      Why the shift ?? American labor cost is almost as cheap as the other Third World Banana Boat Republics !!

    Overall Medal Count

    Rank Country Gold Silver Bronze Total
    1 United States 46 29 29 104
    2 China 38 27 23 88
    3 Great Britain 29 17 19 65
    4 Russia 24 26 32 82
    5 South Korea 13 8 7 28
    6 Germany 11 19 14 44
    7 France 11 11 12 34
    8 Italy 8 9 11 28
    Brought to you byYahoo! Sports