PSA CEO Tavares Says Further Cuts Needed in China

SHANGHAI, April 18 (Reuters) - PSA Group needs "a new business model" in China with "much more cost reduction", Chief Executive Carlos Tavares told reporters on Tuesday at the Shanghai auto show. The Paris-based maker of Peugeot, Citroen and DS cars will have to find deeper cuts in purchasing, logistics and manufacturing to offset declining vehicle prices, Tavares said. PSA Group will need more SUVs in its lineup to compete in the cutthroat Chinese market, Tavares also ...

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