PSA Peugeot Citroën, the European automaking giant responsible for forbidden fruit like the Citroën DS3 and Peugeot RCZ, has been struggling mightily, with a 510-million euro operating loss ($689.2M USD) in the first half of 2013, while cutting over 11,000 jobs and closing a plant, all in a bid to stop hemorrhaging cash. Help could be on the way, though, thanks to one of China's many emergent automakers, Dongfeng.
It's doom and gloom time, folks – PSA Peugeot-Citroën is seriously on the ropes. According to a report from Reuters, citing those ever-so-mysterious "people familiar with the matter," suggests that the Peugeot family, which currently owns a 25.4-percent stake in the eponymous automaker and 38.1 percent of voting rights, "has now accepted that they will lose control" of the company. The rumormill churns with the possibility that control of Peugeot and Citroen will be handed over to Gen
The Peugeot family has suffered an unfortunate loss this past weekend when Bertrand Peugeot passed away on February 14, at age 85. Having acted as vice-chairman of the eponymous French automaker for some 25 years, Bertrand Peugeot will be remembered as the architect of the merger between his family's company and Citroen, forming PSA/Peugeot-Citroen that is now one of Europe's largest automakers.