PSA goes back on its plans to take a substantial stake in the Japanese firm
8 March 2010

Peugeot Citroen has canned its plans to take a substantial stake in Mitsubishi.

PSA’s chief executive Phillippe Varin and Mitsubishi president Osamu Masuko met at the Geneva show earlier this week, but Varin told the press that the conditions for the planned deal had not been met.

Financial sources said that PSA was actively considering taking between a 30 and 50 per cent stake in the ailing Japanese car maker, spending as much as £2.2bn. PSA sources suggest that the tie-up plans are now dead.

Peugeot Citroen wanted to create an alliance, which would help give it a global footing as it attempts to reduce its dependency on the European market.

Mitsubishi shares crashed as the markets raised fears that it needs major cash injections to keep it afloat. Mitsubishi has seen its sales fall by over 50 per cent in the last decade.

Peugeot current uses a modified version of the Mitsubishi Outlander compact SUV as its 4008 model and the Citroen C-Crosser. It also sells a version of Mitsubishi’s innovative i-MiEV electric car as the Peugeot iOn and Citroen C-Zero.

Twitter - follow all the latest Mitsubishi reviews, news and video

Join the debate


8 March 2010

"Peugeot current uses a modified version of the Mitsubishi Outlander compact SUV as its 4008 model "

It's a 4007..........

9 March 2010

maybe they mean they have now sold 4008 of them! Looks as though Mitsubishi are becoming the MGR of Japan.... i am sure a Chinese company will buy into them if only for the Shogun and other off-roader products otherwise is there anything that truly excels?

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Dallara Stradale
    The Stradale is the first road-legel car from Italian motorsport constructor Dallara
    First Drive
    16 March 2018
    The motorsport constructor's first road car is inspired by Lotus minimalism. Does it thrill on road and track?
  • Hyundai i30 N
    Standard spec is good so paint colour is our car’s only option
    First Drive
    16 March 2018
    What’s Hyundai’s first hot hatch and N-brand debutant really like? Let’s find out
  • Porsche Boxster GTS
    This is the new GTS version of the Porsche Boxster
    First Drive
    15 March 2018
    The 718-generation Boxster is our favourite roadster of the moment – so is this new GTS variant worth the extra outlay?
  • BMW 5 Series
    First Drive
    15 March 2018
    The BMW 5 Series is top of the mid-exec pack, but is there still room for a diesel saloon in everyday family life?
  • Audi A7 front
    First Drive
    14 March 2018
    The new Audi A7 Sportback looks the part, but how does the new Mercedes-Benz CLS rival cope on UK roads? We find out