With PSA on the verg of insolvency and a possible bailout...no big surprise here!! Just like GM, the only thing keeping PSA aflot is their finance arm....
Ford Motor Co. and Renault have joined key Volkswagen stakeholder, Lower Saxony, in voicing concern about a French government rescue deal for PSA/Peugeot-Citroen.
Rival automakers are worried that a 7 billion euro ($9.1 billion) French government loan guarantee for PSA's struggling car-loans division will give the automaker an unfair advantage in Europe's slumping car market.
