Peugoet has high hopes for "Back in the race"
Struggling French carmaker Peugeot has revealed its long-awaited recovery plan.
Dubbed “Back in the race” it involves reducing capacity, the number of models, and costs, and returning to profit by 2018.
It also promised develop new plug-in hybrids, four-wheel-drive powertrains and self-driving cars – all while limiting investment to 7-8 percent of sales, compared with 8-10 percent for mass-market peers.
The company’s shares have risen by 50% this year, possibly on hopes of a takeover, but the recovery plan clipped three percent off the price.
Dubbed “Back in the race” it involves reducing capacity, the number of models, and costs, and returning to profit by 2018.
It also promised develop new plug-in hybrids, four-wheel-drive powertrains and self-driving cars – all while limiting investment to 7-8 percent of sales, compared with 8-10 percent for mass-market peers.
The company’s shares have risen by 50% this year, possibly on hopes of a takeover, but the recovery plan clipped three percent off the price.
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