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PSA Peugeot Citroen has warned governments that halting scrappage schemes could prove disasterous.

The group warned that it could lose two billion Euros (£1.7bn) this year, and have to scale back production in the fourth quarter of this year, if Europe-wide scrappage schemes start to be curtailed.

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France was the first of the 12 European countries to launch a scrapping scheme as ...Read the full article

There is too much car production, is n't it time car manufacturers scaled back?

It might even prove disastrous as well.

230SL:

There is too much car production, is n't it time car manufacturers scaled back?

Yes indeed. This is money out of our taxes they are begging for too!!

 i demand shares in all the car manufactureres that have been invested in on my behalf. if the brands want more cash then they should offer us shares in their companies.

but the thing is i dont even want shares in a bussiness model that doesnt work.

if the public wants a car they will buy one, its that simple. dont make cars if you cant sell them! 

the fact is perhaps many people will need to los their jobs in the car industry, its the logical thing thats needed. its not wrong for this to happen or a failure, it what make things work correctly in a balanced way. dont subsidise a failing company or workforce, this prevents them from getting jobs in more interesting and more worthwhile industries and technologies. investment in alternatives is being drained by keeping resources in things that dont work, grrrr.

 

 

If they'd wanted any sympathy from UK taxpayers and customers they shouldn't have shut down Ryton. Tell them to get stuffed.

PSA Peugeot Citroen have got enough money to (oddly) build a supercar that 7 people are interested in buying, maybe the money spent developing that could have saved them from alleged oblivion.