The company, which owns brands such as Peugeot, Citroën and Opel, is now preparing to merge with Fiat Chrysler (FCA).
–
The company’s revenues fell by 34.5 percent to 25.12 billion euros. CFO Philippe de Rovira told reporters that the carmaker had already experienced a strong recovery in sales in June, and a similar trend continues in July.
–
Rovira added that the merger with FCA to create the world’s fourth-largest carmaker, Stellantis, is ongoing and should be completed in the first quarter of 2021. The European Union’s Antimonopoly Office announced earlier this month that it was suspending investigations into the planned merger. for the necessary information, Reuters reported.
–
PSA and FCA agree on a $ 50 billion ($ 1.2 trillion) merger in December 2019. Both companies hope to be better able to cope with weaker demand and share the cost of producing cleaner vehicles. which must meet more stringent emission standards.
–
The agreement brings together the brands of the French group Peugeot, Citroën, Opel and DS with the brands Fiat, Chrysler, Jeep, Dodge, Maserati, Alfa Romeo and Ram. The combined sales of the merged group should reach approximately 8.7 million cars and sales of almost 170 billion euros.
—
/i/2001138925.png?resize=150%2C150&ssl=1)