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New Peugeot 208 production cut as sales disappoint

Peugeot is cutting back on production of the new 208 as its sales fail to reach expectations, just six months on from launch. It’s not enough when Europe is ion the midst of an economic crisis and car buyers are polarised between ‘budget’ cars that offer more for less than mainstream offerings and ‘Premium’ models that are bought on the back of a preconceived notion of more kudos. That leaves car makers like Peugeot (and Renault, Citroen, Vauxhall, Ford, Opel, Fiat…) between a rock and a hard place, unable – or unwilling – to compete with the offerings from Korea and saddled with a brand that doesn’t have the ‘class’ of an Audi or a BMW or a Mercedes or even a VW.

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

New Jaguar XJ – Tease #973!

The new Jaguar XJ features a strong and light aluminium bodyshell This time we’re on sustainability. Yipee! But actually, it’s not as boring as it sounds.