Bmw wants to strengthen its ties with PSA Peugeot-Citroen
By Andrew C., 27 Aug, 2010. 0 Comments
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BMW confirmed that it wants to strengthen its ties with PSA Peugeot-Citroen. BMW's chief financial officer Friedrich Eichiner said that the company is forging closer ties with PSA but in the same breath, denied that it is seeking close bonds with rival Mercedes-Benz. He emphasized that the negotiations with PSA are about the sharing of components. PSA and BMW already share engines, which BMW uses in its Mini range. When asked about Mercedes, he said, "We wouldn't do ourselves a favor if the cars looked more and more alike." In talking about the economic downturn of 2009, Eichiner wasn´t very optimistic. He declined to put a figure on how well BMW would perform and he even warned that a further slump in the car industry could happen. He did expect BMW to post a profit in 2009, but vehicle sales were likely to end up 10% to 15% down on 2008's levels.
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