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COMING UP:Share Opener Variant 3

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Transcript

00:00:01
>> The timing couldn't have been better. PSA no doubt hoping a record 2016 will impress, as it seeks to buy GM's European operations. The maker of Peugeot and Citroen cars lifted automotive operating margins to 6%, from five the previous year. It'll pay its first dividend in six years, and has raised its medium term profitability goal to around 4.5%.
00:00:24
Strong pricing, sales of higher spec models, and cost cuts have all helped Peugeot. It's offering to work some of that magic onto struggling Opel.>> This company, I'm talking about Opel, has been making red ink for ten years. And approximately burning 1 billion Euros of cash every year.
00:00:43
We believe that there is opportunity to create an European car champion.>> Sources say PSA expects the deal to lead to combined sales of 5 million vehicles in 2020 to 2022 and achieve savings of up to 2 billion Euros. PSA still has to convince politicians and unions in Britain and Germany that no jobs will be lost.
00:01:07
It's made promises to protect factories, but some fear the supply chains could suffer.