Peugeot Summoned to Answer Questions for French Industry Minister

The French industry manager Arnauld Montebourg will summon members of the PeugeotPeugeotFrance, 1882 > present120 models
3839 photos
7 videos
family to explain why PSA Peugeot-CitroënCitroënFrance, 1919 > present94 models
5346 photos
11 videos
continued to pay dividends to investors even has it was losing money. The inquiry stems from PSA's plan to cut 8,000 jobs and close the Aulnay factory in 2014. The company has been losing €200 million a month. 

"The Peugeot family has a number of things to explain to us and I will invite them to the ministry so that we can discuss them. Why were there certain financial operations at the time when Peugeot was already starting to experience difficulties, particularly dividend payments," said Montebourg.

Orders for Peugeots continue to fall. Dealers reported that there were 16% fewer order in June and 10% fewer in May, compared to the same month in the previous year. 

Orders for the entire automotive industry in Europe are down 6.3% in the first six months of this year. 

Source: Automotive News Europe