Sunday, February 17, 2013

French Car Maker Peugeot Reported Biggest Lost in Its History



Automaker Peugeot has reported the biggest annual lost in its history. On Wednesday, the struggling French car maker said it has lost $7.6 billion in 2012. It said most of the lost came as a result of its dependence on European markets, an area that has been strongly hit by recession in the past 2 years.
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The French government has said many times it would take all necessary measures to keep the car maker afloat. The company already received from Paris a 7 Billion loan guarantee in 2012. Some analysts have said there is a slim possibility of the government taking a stake in the company. Both government officials and company executives have denied such agreement.
One other option on the table is the sale of Faurecia, which is a supplier but company CEO has said that would not provide any long term solution. 
Related Media: Peugeot 2013

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