PSA Peugeot Citroen restructuring plan got bogged down in the French elections

According to Bloomberg News recently reported that PSA Peugeot Citroen trade unions for the protection jobs with participating in the election, current President Nicolas Sarkozy met with unexpected attention and support, and thus the planning of the restructuring losses of PSA Peugeot Citroen will cast a shadow over the French elections.

In April of this year, PSA Peugeot Citroen union representatives tried to meet with Sarkozy in the presidential election first round. SIA union representatives said Tania Sussest, originally expected to speak with the presidential spokesman, but surprised that Sarkozy himself in person. Listened to 45 minutes, the representative of, Sarkozy promised to meet with the PSA Peugeot Citroen CEO Philip Valan to support the appeal of trade unions to protect jobs. Two days later, Sarkozy fulfill his promise, Kovalam was summoned to the presidential residence.V-Checker V101

The French unemployment rate has reached a new high of 12 years, thus the final two candidates competing for the presidency, Nicolas Sarkozy and François Hollande, keen to ensure that the jobs. According to data provided by the French national data office and car manufacturers of TMS370 association, the French automotive industry currently employs a total of 233,500 people, a ratio of 9% and the automotive industry in the national workforce.

The current overcapacity is the biggest problem faced by the PSA Peugeot Citroen and even most car prices across Europe last year, major companies had to negotiate the production issues. PSA Peugeot Citroen, said the European factories in the first quarter of this year the operating rate has been reduced to 83 percent, according to IHS Automotive estimates that this year the operating rate for the year will be about 75%.

Peugeot Citroen automobile business in 2011 showing the trend liabilities, and net debt doubled to 3.4 billion euros. In terms of market share, in the first quarter of this year, PSA Peugeot Citroen in the European market share fell from 13.3% to 11.9%, Renault fell 8.2 percent from 9.9 percent.

More information, please refer to obd scanner.