European car sales advanced a seventh consecutive month as new models to replace aging vehicles and an economic rebound in the U.K. boosted demand at Renault SA, Ford Motor Co. and PSA Peugeot Citroen.
PSA Peugeot Citroen, Europe’s second-largest carmaker, will cut its lineup by almost half and turn the Citroen unit’s DS badge into a separate premium brand in a bid to return the automotive division to profitability.
PSA Peugeot Citroen’s incoming Chief Executive Officer Carlos Tavares hustled around the Geneva International Motor Show this week in a way that didn’t suggest he was taking one of the toughest jobs in the auto industry.
PSA Peugeot Citroen chose Louis Gallois as the first-ever chairman from outside its founding family as the carmaker seeks to tap the former Airbus Group NV head’s experience with turning around large French companies.
Renault SA Chief Operating Officer Carlos Tavares proposed taking on a wider role at the French carmaker in meetings this week with Chief Executive Officer Carlos Ghosn, two people familiar with the matter said.
PSA Peugeot Citroen hired former Renault SA executive Carlos Tavares to lead the French manufacturer out of a six-year slump in European demand that has sapped the finances of the region’s second-biggest carmaker.