Lack of scale inhibits competitive edge, move upmarket doubted too - "Capital spending was unsustainable, and if Peugeot was to move upmarket this implied higher, not lower spending" - Peugeot is arguably Europe's most financially troubled mass car manufacturer, but its half-year results convinced some investors that happy days are here again. Some investors, that is. Peugeot surprised investors with a cut in losses to {EUR}114 million in the first half of 2014 from {EUR}471 million in the same period of 2013, as operating cash flow jumped to {EUR}1.67 million from {EUR}471 million. The auto division made a {EUR}7 million half year operating profit after a whopping loss of {EUR}538 million in the same period of 2013.
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