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Peugeot Warns Of €2 Billion Loss As Car Sales Fall

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http://business.timesonline.co.uk/tol/busi...icle6560267.ece

PSA Peugeot Citroën warned today that it expects to make an operating loss this year of between €1 billion (£855 million) and €2 billion as it continues to suffer from falling car sales.

The Paris-based carmaker said that customers are buying fewer, smaller, cheaper cars, while it is having to spend heavily on promotions to keep up its market share for both the Peugeot and Citroën brands.

However, the group did say it now expected the European car market to decline less than it had feared, falling 12 per cent instead of 20 per cent.

Peugeot blamed falling sales, combined with uncertainty over whether governments would continue to support the sector, volatile raw material prices and exchange rates for the forecast loss.

The group said in February that it expected to remain in the red until 2010, after reporting an unexpected net loss for 2008, but had not indicated how big the loss would be.

The company has issued a convertible bond offer intended to raise up to €575 million in order to shore up its finances.

The money raised will also be used to fund the development of a new car, more efficient and electric motors and the expansion of sites in Russia and China.

Perhaps the French govt will give them a bailout?

The bond sounds a bargain, good investment there I think.

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The world would be a better place without them and their sh1tty cars. Another embarrassment of a company that should do the decent thing and close down, now. :rolleyes:

Let the Japs do cars, the French are better at bread and the British are good at....................... :unsure:

fitting laminate flooring

Edited by Wait & See

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The world would be a better place without them and their sh1tty cars. Another embarrassment of a company that should do the decent thing and close down, now. :rolleyes:

Let the Japs do cars, the French are better at bread and the British are good at....................... :unsure:

fitting laminate flooring

We let other people make things, then give them bits of easily printed paper in exchange. Genius, unless they work out what's going on.

I likes my old Pug.. OK, it had a few warning lights, the clutch fell apart, the suspension collapsed and the turbo clogged a bit. But apart from that it was a stylish machine. Although I'm slightly worried that the second hand dealer that gave me £700 for it is going to come after me with a big stick..

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I can't think of a single reason to buy a new car, it's no wonder all these companies are struggling now times are hard

I just bought a top of the range 50k car that has lost 90% of it's value in 7 years and drives like new :blink:

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I can't think of a single reason to buy a new car, it's no wonder all these companies are struggling now times are hard

I just bought a top of the range 50k car that has lost 90% of it's value in 7 years and drives like new :blink:

....got a new motor? What is it?

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I can't think of a single reason to buy a new car, it's no wonder all these companies are struggling now times are hard

I just bought a top of the range 50k car that has lost 90% of it's value in 7 years and drives like new :blink:

Well, if nobody buys new cars, car supply get scarse and used prices go up. Theres a reason.

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Well, if fewer people buy new cars, car supply get scarse and used prices go up. Theres a reason.

You're assuming that demand is a constant. People may sensibly choose to live closer to work. A 20 minute walk in here, great to be back having a BBQ at 5:15pm while everyone else is choking on each others' fumes to get to the suburbs an hour away.

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Well, if nobody buys new cars, car supply get scarse and used prices go up. Theres a reason.

That's why people buy new cars?

To protect the used car market? :unsure:

That might be an affect, but it's not a cause :blink:

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i can't help thinking that a small part of the problem is the complete design vacuum in which new cars are created. call me old fashioned, but i still think the E Type is a piece of art, and the lumpy functionality of cars the last couple of years... ugh, the horror

no-one is going to look upon the new Nemo or C3 Picasso in years to come as a design icon. modern French cars are especially ugly, stupid curves and lumps - eccentric and ugly rather than eccentric and beautiful

http://www.citroen.co.uk/new-cars/citroen-c3-picasso/

http://www.citroen.co.uk/new-cars/citroen-nemo-multispace/

compared with

http://www.telegraph.co.uk/telegraph/multi...s-2_839583a.jpg

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The world would be a better place without them and their sh1tty cars. Another embarrassment of a company that should do the decent thing and close down, now. :rolleyes:

Let the Japs do cars, the French are better at bread and the British are good at....................... :unsure:

fitting laminate flooring

If you don't like the Peugeot 107 or the Citroen C1 you could always get a Toyota Aygo.

Or a Citroen C-Crosser for a Mitsubishi Outlander :P

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What happened to Peugeot's bicycles?

When I went to work in Germany in 1985, I found contrary to what I'd been told, my workplace was not on the U-bahn. So I had to buy a new bike in a hurry. I bought a peugeot, and it was a very nice bike at a very reasonable price, and served for several tours as well as regular commuting and shopping.

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i can't help thinking that a small part of the problem is the complete design vacuum in which new cars are created. call me old fashioned, but i still think the E Type is a piece of art, and the lumpy functionality of cars the last couple of years... ugh, the horror

I'll second that. I remember being in a third floor pizza shop in Japan and watching the traffic go by from above. Suddenly an E-type coupe came by an it made me take a sharp intake of breath...what a beautiful looking thing. That kind of physical reaction had never happened to me before (or since).

Could have been the pizza though.

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I'll second that. I remember being in a third floor pizza shop in Japan and watching the traffic go by from above. Suddenly an E-type coupe came by an it made me take a sharp intake of breath...what a beautiful looking thing. That kind of physical reaction had never happened to me before (or since).

Could have been the pizza though.

The E Type is hardly the most practical of cars. Just look at the 'bread and butter' stuff that the mere mortals had to drive in that era. Supercars are easy to design as the practicalities can be given less importance. Superminis are the most difficult and as such when good ones are produced they tend to be more significant in the real world than fantasy toys......

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i can't help considering 2 recent designs, both variations on the same layout and concept. the shape is more than superficially similar

Honda Civic

Alfa Brera

one makes me feel ill, the other i think is a thing of beauty. no prizes for guessing which is which

then there's the Ka Roadster / MX5, for exercises in function and form

i admit the e-type is and was expensive, but it's surely not hard to design a car the sight of which doesn't make one irrationally angry...

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Guest redwine
i can't help considering 2 recent designs, both variations on the same layout and concept. the shape is more than superficially similar

Honda Civic

Alfa Brera

one makes me feel ill, the other i think is a thing of beauty. no prizes for guessing which is which

then there's the Ka Roadster / MX5, for exercises in function and form

i admit the e-type is and was expensive, but it's surely not hard to design a car the sight of which doesn't make one irrationally angry...

Peugeot make good cars the 206 was the best ever car sold in Europe

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no-one is going to look upon the new Nemo or C3 Picasso in years to come as a design icon. modern French cars are especially ugly, stupid curves and lumps - eccentric and ugly rather than eccentric and beautiful

I used to drive Citroens when they were proper Citroens and getting from A to B was an achievement!

Citroen_CX_2400_GTI_1978.jpg

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I used to drive Citroens when they were proper Citroens and getting from A to B was an achievement!

Citroen_CX_2400_GTI_1978.jpg

<alan partridge>

now that......

is a Citroen!

</alan partridge>

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Peugeot make good cars the 206 was the best ever car sold in Europe

i agree, the older ones (90's) are kind of classics.... will the new ones look as good in 10-15 years?

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The DS was way ahead of it's time. It came out in 1954!

I always liked Citroens but had a BX which due to ignition problems would cut out for no apparent reason, then an XM with erratic tickover. BX new, XM with delivery miles and problems never sorted.

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The DS was way ahead of it's time. It came out in 1954!

I always liked Citroens but had a BX which due to ignition problems would cut out for no apparent reason, then an XM with erratic tickover. BX new, XM with delivery miles and problems never sorted.

My XM was great, bought for a few hundred quid from a dealer who thought I was mad. Very reliable apart from dodgy electrics. Not as quirky as the CX though.

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I like their cars. After join with citroen they started to mane good looking and reliable cars.

I am sure that the government will help them to survive just like Germans did

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