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Peugeot boss warns of further gloom for UK car manufacturing

The boss of PSA Peugeot Citroen has warned of further threats to the UK car industry, posed by the strong pound.

In the week after General Motors announced it was to end car production at its Vauxhall plant in Luton, Jean-Martin Folz, PSA chief executive, revealed in today's Financial Times that the development of the new paint shop at the Ryton Peugeot plant would only happen if the company was wholly satisfied of the financial value of investment in the UK.

He is quoted as saying: "Before taking this decision we will have to review the advantages of making this investment in the UK. We will have to know exactly where the pound is versus the euro."

Ryton is the home of the Peugeot 206 and unlike Luton is operating at full capacity.

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