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11/12/2009
Peugeot/Mitsubishi Link Discussed
A loss-making Japanese car giant is in discussions with a European rival over a possible alliance.
The French carmaker Peugeot Citroen has said it is in talks with Mitsubishi Motors about a "strategic partnership".
It is believed the two massive businesses already co-operate together in Russia - on electric cars and developing four-wheel drive vehicles - so a further international link could be on the cards.
The Japanese carmaker Mitsubishi reported a loss of just over $400m in the first half of this year and is said to be "discussing various possibilities, and a capital tie-up is among them".
Any deal would mean Peugeot effectively taking over Mitsubishi through buying a 50% stake. However, Mitsubishi may also buy a stake in the French carmaker.
It had previously said it was not looking for any car alliances and would go it alone with the backing of Mitsubishi Group.
Commentators said that while a Peugeot-Mitsubishi partnership seems on the face of it comparable to the Renault-Nissan pairing in 1999, there are some differences.
Mitsubishi is much smaller than Nissan and doesn't have the strong presence in the Asian market that would allow Peugeot to expand rapidly in China, India, and elsewhere.
Also, Mitsubishi is ranked just seventh in Japan and sells fewer than 900,000 cars annually including just 49,631 vehicles sold in the US.
Peugeot however, has sold just over 1.6 million year to date this year, vehicles marketed as Peugeots and Citroens.
But Peugeot, like Renault, exited the US market years ago; so having access to Mitsubishi's US showrooms could bring its two brands back to North America quickly.
(BMcC/KMcA)
The French carmaker Peugeot Citroen has said it is in talks with Mitsubishi Motors about a "strategic partnership".
It is believed the two massive businesses already co-operate together in Russia - on electric cars and developing four-wheel drive vehicles - so a further international link could be on the cards.
The Japanese carmaker Mitsubishi reported a loss of just over $400m in the first half of this year and is said to be "discussing various possibilities, and a capital tie-up is among them".
Any deal would mean Peugeot effectively taking over Mitsubishi through buying a 50% stake. However, Mitsubishi may also buy a stake in the French carmaker.
It had previously said it was not looking for any car alliances and would go it alone with the backing of Mitsubishi Group.
Commentators said that while a Peugeot-Mitsubishi partnership seems on the face of it comparable to the Renault-Nissan pairing in 1999, there are some differences.
Mitsubishi is much smaller than Nissan and doesn't have the strong presence in the Asian market that would allow Peugeot to expand rapidly in China, India, and elsewhere.
Also, Mitsubishi is ranked just seventh in Japan and sells fewer than 900,000 cars annually including just 49,631 vehicles sold in the US.
Peugeot however, has sold just over 1.6 million year to date this year, vehicles marketed as Peugeots and Citroens.
But Peugeot, like Renault, exited the US market years ago; so having access to Mitsubishi's US showrooms could bring its two brands back to North America quickly.
(BMcC/KMcA)
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