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    Peugeot and GM scale back alliance

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    euronews (in English)

    by euronews (in English)

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    PSA Peugeot Citroen is to scale back its alliance with US company General Motors.

    Peugeot said a joint small-car programme with GM is likely to be cancelled.

    "Further analysis showed that the business model just wasn't there," a Peugeot spokesman said, without elaborating.

    That word came as the troubled French carmaker posted a 3.7percent decline in quarterly revenue.

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    http://www.euronews.net/