France Sells Shares of Safran, Further Sales on the Horizon

Last week, the French state sold a portion of its shares in the aeronautic equipment manufacturer Safran. In light of the successful transaction, Minister of Industrial Renewal Arnaud Montebourg announced on Friday, April 5 that this type of operation might be repeated. The French government has begun undertaking such selloffs in an effort to pay […]

Growing Problems for French Car Industry: Peugeot and Renault

With both PSA Peugeot-Citroen and Renault suffering significant financial losses in 2012, the French car industry continues to flounder in the New Year. Both car companies posted poor earnings last year, and Peugeot-Citroen’s earnings took a hit of 5 billion euros (6.4 billion dollars).  Renault, in slightly better shape, announced a net loss of 15% […]

7,500 Jobs Lost in France Due to Renault’s New Measures

Renault’s announcement January 15 to cut 7,500 people from its workforce puts the company in a group of European automakers who are all struggling in the post-recession economy.  As demand for automobiles has fallen, sales and profits have followed suit, and companies are finding ways to deal with the problem. Blame for the drop in […]

Key to Auto Industry: the Environment

“This plan is the rebirth of the French car,” Arnaud Montebourg declared on Wednesday during a press conference held to detail the measures to help French manufacturers and their subcontractors. Primarily focused on the environmentally friendly car, the Productive Recovery Minister explained that, “the future of the French automobile will come through a clean, innovative, […]