Tag Archives: PSA Peugeot Citroen

Sometimes it feels like everything we ever knew is falling apart. When I was younger, my mom always assured me that the US was the best country to live in, that we were so powerful and so prosperous and so free. But as I got older and started learning more about the world around me in light of the war and economy over these past years I started to doubt my mother’s beliefs. The outlook for our entire situation is looking better, but it still frightens me. And sometimes I forget that it’s not just us. Every part of the world is enduring something similar.

+France just promised a €6.5 billion euro loan to their (similarly) hurting auto industry. The money is being split up among PSA Peugeot Citroën, Renault and Renault Trucks. 

+Italy announced a $1.7 billion bailout package for it’s auto industry last week saying that it faced losing 60,000 jobs otherwise.

+Britain is loaning $1.9 billion to it’s auto industry as well despite most of their manufacturers being foreign owned they employ a significant number of Brits. And British company Bentley will cut all salaries by 10%.

+Even in Asia, Nissan has announced it will be cutting 20,000 jobs.