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Peugeot boss Streiff thinks mergers likely

PSA chief executive Christian Streiff has said he believes there will be more capital relationships between car companies as they look to pool costs, reported Financial Times.

In the current climate, Streiff has slashed Peugeot’s profitability target for this year and cut quarter four production by at least 20%.

He said: “If the crisis lasts a year or two, we will have some changes – companies merging.”

The company is reorganising its operation in China where it has underperformed rival carmakers and stopped some production over summer because of slower sales.

It is also scouting sites in Poland and Turkey to build a plant for a new entry-level model.
 

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