UG.PA - Peugeot S.A.

Paris - Paris Delayed price. Currency in EUR
22.25
-0.07 (-0.31%)
As of 9:06AM CEST. Market open.
Stock chart is not supported by your current browser
Previous close22.32
Open22.22
Bid0.00 x 0
Ask0.00 x 0
Day's range22.21 - 22.29
52-week range17.17 - 25.40
Volume39,792
Avg. volume2,099,613
Market cap19.881B
Beta (3Y monthly)N/A
PE ratio (TTM)7.39
EPS (TTM)N/A
Earnings date24 Jul 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est24.75
  • Small Cars Are Being Driven Out of Existence
    Bloomberg5 days ago

    Small Cars Are Being Driven Out of Existence

    (Bloomberg Opinion) -- Car launches are 10-a-penny so it’s very rare that a particular model’s demise captures the world’s attention. The Volkswagen Beetle, the last of which rolled off the production line in Mexico this week, was no ordinary vehicle though.The downfall of the “People’s Car,” an icon of post-war German prosperity as well as the 1960s counterculture, is all the more painful because of what’s replacing it. Bloomberg News reported this week that the Mexican plant is now gearing up to build – wait for it – a compact sports utility vehicle.With all due respect to VW’s new SUV, I doubt it’s going to capture hearts the way the “Love Bug” did, not to mention the original tiny Fiat 500 or Britain’s Mini for that matter. Petite, fuel-efficient cars would seem to be an obvious solution for a warming planet and our increasingly crowded cities. Yet they’re fast becoming an endangered species in western markets. Consumers have voted with their wallets by buying SUVs and because they carry fatter profit margins, carmakers have been happy to oblige. VW’s famous entreaty to Beetle customers to “think small” hasn’t worked out. But killing the affordable small car could yet have adverse consequences for the auto industry – as well as the environment. At their best, they marry affordability and utilitarian styling and they can be outrageously good fun to drive. In a recent “research” video report for clients, the Bernstein analyst Max Warburton borrowed a vintage 1.9 liter Peugeot 205 GTI – a racy version of the French bestseller. His boyish delight at getting behind the wheel was palpable.Compact cars have always struggled to gain traction with Americans, though, and they’ve been overshadowed recently by the boom in trucks and SUVs, which account for almost 70% of the U.S. market. Cheap credit and leasing have made larger vehicles more affordable; the average purchase price of a new car has risen to an eye-watering $37,000. And low gas prices make these heavyweights less costly to run. In fairness, some compact SUVs are actually pretty fuel efficient, so even a big rise in pump prices might not reverse this trend.Plus there’s the safety factor, which compels even people who don’t like SUVs to buy one in case they get into an accident with another giant vehicle. Pedestrians are more likely to be killed if they’re hit by a large SUV, but that’s apparently of little concern.In Europe, where small cars still account for about one-third of the market, there’s another (counter-intuitive) factor working against compact models: Tougher emissions standards. By 2021 carmakers must achieve average fleet emissions of 95g CO2/km. Targets for 2025 and 2030 are even more stringent.The problem, car executives say, is that the high cost of electrification technology is difficult to combine with the economics of smaller, cheaper cars. Installing emissions-cutting kit in a compact car requires either a prohibitively high sticker price or the sacrifice of profit margins. Perversely, it can be cheaper for carmakers not to bother and just pay the regulatory fine.Hence several entry-level models might be facing the chop, at least until the cost of batteries falls. VW’s CEO Herbert Diess said recently that his company’s smallest vehicles, the Up! and Polo, are “really under threat.” Meanwhile, Peugeot SA’s Opel/Vauxhall has already announced that its Adam and Karl city cars face the ax.From a profit and regulatory compliance perspective, it’s certainly better for carmakers to sell lots of hybrid SUVs and high-performance sports cars. But is this better for the environment? That’s debatable.Some hybrids still emit lots of CO2 when driven distances that exceed their very limited electric-only range, and that’s not their only drawback. “The problem with plug-in hybrids is that consumers don’t plug them in,” says Bernstein’s Warburton.One sad consequence of these trends is that there will be fewer new vehicles on the market that poorer or younger customers can afford to buy and insure. While they’ll be able to buy second-hand still, a dearth of cheap models may turn even more people off the idea of car ownership.Car-sharing, bike-sharing and electric scooters have already persuaded many young city dwellers that there are better alternatives; the average age of a new car buyer in Germany has risen to 53. SUVs have killed the small affordable vehicle. But big, self-owned cars face their own struggles.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Bloomberg5 days ago

    Mercedes Shows the Car Industry Can't Be Trusted

    (Bloomberg Opinion) -- Profit warnings are never pleasant but few are as comprehensively horrible as the one Daimler AG served up on Friday. If the German car giant’s intention was to convince the investment community that it doesn’t have a grip on its business or earnings forecasts, then well played. Mission accomplished.Usually a warning that spans product recall costs, legal issues, production delays and weak demand might be excused as “kitchen-sinking” (getting all of your bad news out at once). Ola Kaellenius took over as chief executive from Dieter Zetsche in May and a change at the top is often a good moment to reset investor expectations.But this is Daimler’s fourth profit warning in barely 12 months, and the last one came less than three weeks ago. It had already chucked out the kitchen sink; now’s it’s moved on to tearing out the plumbing. On top of the problems disclosed by Daimler in the last warning, the company has now revealed several massive new burdens on earnings, which are related chiefly to the fallout from allegations of emissions tampering in diesel cars. I wrote before about the legal risks that Daimler faces. The upshot is that the German giant made a 1.6 billion euro ($1.8 billion) operating loss in the second quarter and full-year profit is now expected to be “significantly” below last year’s. The Mercedes-Benz division will probably eke out a return on sales of just 4% this year (the midpoint of its expected range). For a premium auto manufacturer, that’s abysmal. The French mass-market carmaker Peugeot SA achieved double that recently.  Oddly, Daimler shares gave up less than 1 billion euros of market value on Friday, which suggests investors were expecting more bad news. Also, some of the new problems are one-offs. Still, the fall propelled Daimler’s dividend yield – the last dividend divided by the share price – toward 7%. That’s not a sign of faith from the markets.Daimler distributed 40% of its net profit to shareholders last year, which means it paid out almost 3.5 billion euros. It’s reasonable to assume 2019’s net profit will be lower than last year and that the dividend will be too. The Bloomberg Dividend Forecast anticipates a payout of 2.65 euros a share, a cut of almost one-fifth. With Daimler’s cash flow under severe pressure, even that looks generous.  To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • How Do Analysts See Peugeot S.A. (EPA:UG) Performing Over The Next Few Years?
    Simply Wall St.9 days ago

    How Do Analysts See Peugeot S.A. (EPA:UG) Performing Over The Next Few Years?

    In February 2019, Peugeot S.A. (EPA:UG) announced its latest earnings update, which indicated that the company...

  • Reuters - UK Focus12 days ago

    RPT-Warning light flashing for Slovakia's auto industry

    BRATISLAVA/PRAGUE, July 4 (Reuters) - When David landed an assembly line job at Volkswagen's Bratislava factory, his colleagues congratulated him on securing a well-paid position he could ride to retirement. Two years later, he is among the 3,000 workers being laid off at the plant that produces the Volkswagen Touareg and Porsche Cayenne in a round of job cuts that has sent shockwaves through Slovakia, the world's biggest car producer per capita. "All my colleagues were saying there's nothing to worry about, if I get used to the work load and work pace, the salary will gradually increase and I will have a stable job until retirement," said David, who declined to give his last name.

  • Bloomberg14 days ago

    Europe Thinks Like China in Building Its Own Battery Industry

    The European Union is starting to act like China when it comes to building the batteries that will drive the next generation of cars and trucks.In the past few months, government officials led by European Commission Vice President Maros Sefcovic have joined with manufacturers, development banks and commercial lenders on measures that will channel more than 100 billion euros ($113 billion) into a supply chain for the lithium-ion packs that will power electric cars.Germany and France are prodding for action out of concern that China is racing ahead in new technologies sweeping the auto industry. With 13.8 million jobs representing 6.1% of employment linked to traditional auto manufacturing in the EU, authorities want to ensure that manufacturers can pivot toward supplying electric cars and batteries.“We are walking the talk,” Sefcovic said in remarks to Bloomberg. “We have overcome an initial resignation that this battle would be a lost one for Europe.”A number of trends are catalyzing the program, starting with the determination by EU nations to rein in greenhouse gases and fight climate change. They’re increasingly focused on reducing pollution from diesel engines and alarmed at the head start Chinese companies have in greener technologies. French President Emmanuel Macron in February said he “cannot be happy with a situation where 100% of the batteries of my electric vehicles are produced in Asia.”Drive Trains Go ElectricSo far, the EU’s program is starting to work and putting Europe on track to wrest market share away from China. By 2025, European companies that currently lack a single large battery maker will rival the U.S. in terms of capacity, according to forecasts from BloombergNEF. Measures that will spur investment include:France and Germany are working on measures to channel billions of euros into the battery industry. Sefcovic has said the EC may be able to embrace the state-aid proposal as a special project by the end of October. The two nations are seeking to draw in additional support from Spain, Sweden and Poland.The European Investment Bank gave preliminary approval in May to a 350 million-euro loan supporting NorthVolt AB’s bid to build a battery gigafactory in Sweden after the company completed a fund raising. The EIB along with the European Bank for Reconstruction & Development are working on a “raw materials investment facility” that will help to build a supply chain for rare Earth metals needed for batteries, according to Sefcovic who says he hopes the program will be launched by the end of the year. The EU in May started a 100 million-euro Breakthrough Energy Ventures fund with Microsoft Corp. founder Bill Gates and other investors to advance the energy transition, which is likely to include batteries. The EC has gathered at least 260 industrial companies including Peugeot SA, Total SA and Siemens AG in an alliance aimed at building capacity to make the energy storage devices in Europe.“A year or two ago, everyone was under the impression that it was already too late for Europe,” said James Frith, an energy storage analyst at BloombergNEF in London. “But they’ve made a commitment, and Europe is in a strong position now.”By 2025, Europe may control 11% of global battery cell manufacturing capacity, up from 4% now, according to Frith. That will pare back China’s market share and rival the U.S. command of the industry. The EC estimates the battery market may be worth 250 billion euros a year by then. It estimates at least 100 billion euros already has been committed to battery factories or their suppliers in Europe.The goal is to build enterprises in Europe that could supply the region’s automakers without requiring imports from the major battery manufacturing centers in Asia. Currently, Contemporary Amperex Technology Co., or CATL, and BYD Co. dominate production in China. Elon Musk’s Tesla Inc. is also building battery gigafactories in the U.S.So far, Europe has no established battery supply chain, though it has drawn investment in local factories from Korean firms including LG Chem Ltd. and Samsung SDI Co. as well as CATL.The new ambition of the commission is to stimulate companies big enough to supply the likes of BMW AG and Volkswagen AG, which plan a massive increase in electric car production. Across the industry, the outlook is for a rising portion of cars to run on batteries in the coming years.No single company will get the lion’s share of the investment or aid. Instead, dozens will benefit in addition to Peugeot and Total, which are building a cell plant in Kaiserslautern, Germany. Funds will also trickle into suppliers of parts or raw materials including Siemens, Umicore SA, Solvay SA and Manz AG.Scarred by losing control of the solar industry in the last decade, Germany is leading the push. The nation was the biggest producer of solar cells in the early 2000s before Chinese companies backed by government loans took the lead.When it comes to batteries, Economy and Energy Minister Peter Altmaier is focused on the 800,000 jobs in Germany tied directly to car manufacturing. Batteries account for about a third of the value of an electric car, and without facilities to make those in Europe, more jobs will go to Asia, Altmaier has said.“There’s going to be huge demand in Europe for battery cells,” Altmaier said on ARD Television in June. “We must have the ambition to build the best battery cells in the world in Europe and Germany.”Sefcovic envisions 10 or 20 “gigafactories” making battery cells across Europe and with his support the European Battery Alliance is seeking to coordinate research that will be the foundation of the plan. NorthVolt intends to be one of the major battery makers, feeding BMW and other major automakers.“If we want to be one of the major manufacturers in Europe by 2030 we need to build about 150 gigawatt-hours of capacity,’’ said NorthVolt Chief Executive Officer Peter Carlsson. “The customer demand is so strong that we are accelerating our plans. We have taken a huge step on the way to create a new Swedish industry that will have a big impact in cutting our dependence of fossil fuels.’’To contact the reporters on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net;Jesper Starn in Stockholm at jstarn@bloomberg.netTo contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Brian ParkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus15 days ago

    LIVE MARKETS-Closing snapshot: European stocks march on, FTSE shines

    * STOXX up 0.4%, FTSE 100 +0.8% * Sterling slides after BoE's Carney flags trade, Brexit uncertainty * Dialight drops 32%, Funding Circle falls 26% * U.S. threatens tariffs on $4 billion of additional EU goods * US stocks open flat July 2 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: rm://helen.reid.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: EUROPEAN STOCKS MARCH ON, FTSE SHINES (1553 GMT) European stocks marched higher, keeping up a bit of their tempo from yesterday when they strongly rallied on U.S.-China trade reprieve. For now the new tariffs are "fairly unimportant and tiny," said Keith Temperton at Tavira Securities.

  • Reuters - UK Focus15 days ago

    LIVE MARKETS-FTSE 100 rallies on Carney's dovish comments

    * STOXX up 0.4%, FTSE 100 +0.8% * Sterling slides after BoE's Carney flags trade, Brexit uncertainty * Dialight drops 32%, Funding Circle falls 26% * U.S. threatens tariffs on $4 billion of additional EU goods * US stocks open flat July 2 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Reach her on Messenger to share your thoughts on market moves: rm://helen.reid.thomsonreuters.com@reuters.net FTSE 100 RALLIES ON CARNEY'S DOVISH COMMENTS (1454 GMT) Britain's blue-chip stocks index jumps 0.8% to over 10-month high reacting to a sharp sell-off in sterling (-0.4%) after dovish comments by Bank of England's Mark Carney.

  • Reuters - UK Focus15 days ago

    LIVE MARKETS-Learnings from the H2O & Woodford saga

    * STOXX up 0.2%, DAX flat as trade tension puts brakes on rally * Dialight drops 32%, Funding Circle falls 26% * Galapagos climbs 5% after filgotinib drug announcement * U.S. threatens tariffs on $4 billion of additional EU goods * US futures dip after rally July 2 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid. Bank of England Governor Mark Carney recently said investment funds that include illiquid assets but allow investors to take out their money whenever they like were "built on a lie" and could pose a big risk to the financial sector. "We do not expect an outright ban on illiquid assets in UCITS (Undertaking for the Collective Investment in Transferable Securities) funds," BAML adds.

  • Reuters - UK Focus15 days ago

    LIVE MARKETS-Auto warnings?

  • EU regulators to investigate 20.7 million euro Spanish aid for Peugeot
    Reuters16 days ago

    EU regulators to investigate 20.7 million euro Spanish aid for Peugeot

    EU antitrust regulators opened an investigation on Monday into Spain's plan to grant 20.7 million euros (18.5 million pounds) to French carmaker Peugeot's plant in the north west of the country, concerned that this may breach the bloc's state aid rules. Peugeot is investing about 500 million euros in new production lines for vehicles in the factory located in Vigo and also in improving the process. The European Commission said the Spanish aid may have given the country an unfair advantage in attracting the Peugeot project or that it may even be unnecessary.

  • Bloomberg20 days ago

    Ford Goes on a Grim Journey, But All Is Not Lost

    (Bloomberg Opinion) -- Ford Motor Co. sold 1.5 million vehicles in Europe in 2018, about one-quarter of the group total. But from an investor perspective that effort was largely pointless: The company made a $400 million loss in the region, and not for the first time.The 12,000 European job cuts announced by Ford on Thursday are an acknowledgement that such largess is no longer tolerable. In an era of plateauing demand for cars, technological shifts, and trade upheaval, trying to be all things to all people is a recipe for inefficiency. While Ford’s restructuring is painful for those affected, it is unavoidable and overdue.The U.S car industry shuttered huge amounts of production during the great recession but Europe avoided such a severe reckoning.(1) Today the continent has about 25% more automotive capacity than it is using, according to an estimate cited in Ford’s annual report. That puts pressure on pricing.When Ford was losing epic amounts of money in the U.S. in the lead up to the 2008 recession, its international operations stood apart because of their strong performance. These days the roles have been reversed. The company makes almost all of its profit selling trucks to Americans; selling cars to Europeans is a slog.Ford’s great rival General Motors Co. went the whole hog and cleared out of Europe back in 2017 after years of losses there, with its Opel/Vauxhall operations offloaded to France’s Peugeot SA. Should Ford have done the same?Perhaps. Carmakers in Europe face billions of euros of fines from 2021 onwards unless they cut their vehicle emissions sufficiently. This means they’ll have to add lots of expensive technology to vehicles that consumers might not be willing to pay for. Diesel cars remain in the doghouse on the continent and Brexit could yet cause Ford no end of trouble too – the U.K is its biggest European market.Ford plans to tough it out in Europe, though, and you have to respect that. While it’s shedding six plants and 20 percent of its headcount, it’ll still employ more than 40,000 people there. Workers will be grateful for those well-paid auto-making jobs.Of course, Ford isn’t a charity but it’s still possible to make money from cars in Europe, provided you have the right locations, products and management. Just ask Peugeot boss Carlos Tavares, who has taught GM a lesson by returning Opel to profit in two short years. Peugeot’s car business is generating an operating profit margin of more than 8 percent, remarkable by the standards of the mass-market business.Peugeot has the advantage of scale. It has 17 percent of the European car market, whereas Ford has 6.5 percent (7.5 percent if you include commercial vehicles). Still, Ford thinks a 6 percent return on sales should be possible with time; it was making a $1.2 billion profit in the region as recently as 2016.The company can capitalize on some notable strengths, particularly in its market-leading and profitable commercial vehicles business. A new partnership with Volkswagen AG should help, although we await more details on that. And, as I’ve noted before, imported Mustang sports cars are a lot more popular here than you might have realized. The company sold almost 10,000 of them last year. A Mustang-inspired electric utility vehicle is arriving soon.Toward the end of last year, it looked as though Ford’s investors had all but given up on the company. The shares fell to levels last seen during the 2009 recession. But as the CEO Jim Hackett has finally gotten to work on its restructuring, and delivered some better-than-expected results, the stock has rebounded by one-third this year.Shuttering plants is a grim task but there’s at least a few reasons to remain hopeful.(1) Though Ford did shut some plants in 2012.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters - UK Focus20 days ago

    UPDATE 1-Peugeot issues Brexit ultimatum on new car investment

    LONDON/PARIS, June 27 (Reuters) - French carmaker Peugeot said on Thursday it plans to build its new Astra car at its British Ellesmere Port factory but the decision depends on the outcome of Brexit, in the latest warning from the automotive sector. Peugeot bought General Motors' Opel unit, which trades as Vauxhall in Britain, in 2017, and has been restructuring operations to boost profitability at the once loss-making brands. It said on Thursday that it will build the next-generation Astra at its German Russelsheim plant and also wanted to make the model in Britain, where the existing vehicle is made.

  • Reuters - UK Focus20 days ago

    Carmaker PSA to decide on new Ellesmere work after final Brexit terms

    LONDON/PARIS, June 27 (Reuters) - French carmaker PSA said on Thursday that a final decision on whether to build its next generation Astra model at Ellesmere Port would depend on the final terms of Britain's departure from the European Union. "Groupe PSA has today announced its intention to manufacture the next generation Astra in two plants in Europe. The group has confirmed that the Russelsheim plant will manufacture Astra and that it is planned that the second plant will be Ellesmere Port in the United Kingdom," the Peugeot-maker said in a statement.

  • Reuters - UK Focus20 days ago

    UPDATE 1-European car lobby cuts 2019 sales forecast to 1% fall

    Europe's automotive lobby on Thursday cut its forecast for passenger car registrations this year to a 1% fall from a 1% rise, blaming slower growth and business concerns over Britain's impending exit from the European Union. The European Automobile Manufacturers' Association (ACEA) said it now expected car sales in the European Union to just exceed 15 million this year. "It goes without saying that any additional barriers, costs or delays as a result of Brexit will pose a serious threat to jobs and growth in the auto industry, both in the UK as well as in the EU," ACEA Secretary General Erik Jonnaert said in statement.

  • Reuters - UK Focus20 days ago

    UPDATE 4-No-deal Brexit could end Japan investment boom, envoy tells UK PM rivals

    LONDON/TOKYO, June 27 (Reuters) - Japan on Thursday cautioned the two candidates vying to replace Prime Minister Theresa May that a no-deal Brexit would be so disruptive for many companies that Japanese capital's 35-year bet on Britain could end. In an appeal to both Boris Johnson and Jeremy Hunt, Foreign Minister Taro Kono said Tokyo did not want a no-deal Brexit, that some companies were already moving out and that more investment could go.

  • Do You Know What Peugeot S.A.'s (EPA:UG) P/E Ratio Means?
    Simply Wall St.24 days ago

    Do You Know What Peugeot S.A.'s (EPA:UG) P/E Ratio Means?

    The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). To keep it practical, we'll...

  • Do You Like Peugeot S.A. (EPA:UG) At This P/E Ratio?
    Simply Wall St.24 days ago

    Do You Like Peugeot S.A. (EPA:UG) At This P/E Ratio?

    This article is written for those who want to get better at using price to earnings ratios (P/E ratios). To keep it...

  • Reuterslast month

    PSA to assemble batteries for hybrid, electric cars in Slovakia

    French carmaker PSA, owner of the Peugeot, Citroen and DS brands, will start assembling batteries for its hybrid and electric cars at its plant in Trnava, Slovakia, and later at its plant in Vigo, Spain. The company also expects to assemble batteries at some of its other factories as sales of electric cars pick up, Peugeot's industrial director Yann Vincent said on Friday at a plant in the town of Tremery in eastern France. Vincent added the company expected rising demand for electric and hybrid cars, as well as for vehicles with automatic gearboxes, to offset falling demand for diesel and manual gearbox cars.

  • Reuters - UK Focuslast month

    UPDATE 2-UK economy shrinks in April after car plants closed, expecting Brexit

    * UK GDP falls 0.4% m/m in April, biggest drop since 2016 * Car output down 24% due to stoppages, biggest fall on record * Goods imports fall largest amount on record, exports slide * NIESR forecasts UK economy to shrink 0.2% in Q2 (Adds NIESR forecast of second-quarter contraction) By David Milliken and Alistair Smout LONDON, June 10 (Reuters) - Britain's economy contracted sharply in April after the biggest decline in car production since records began, as manufacturers were unable to reverse closures planned to coincide with Britain's expected departure from the EU. Early in 2019, many motor manufacturers had announced temporary shutdowns in April at their British plants, anticipating trade disruption around the time Britain was due to leave the European Union on March 29.

  • Reuters - UK Focuslast month

    UPDATE 4-Ford to close engine plant in Wales in latest blow to UK car sector

    Ford said it would close its plant in Bridgend, south Wales next year because of falling demand for some of its engines, putting 1,700 jobs at risk in a further blow to Britain's once booming car industry. Ford, which will take a roughly $650-million pre-tax charge to cover the cost of closing the plant, is making cuts in several countries to turn around loss-making operations in a stagnating European car market. The U.S. automaker has also repeatedly warned the UK government that it needs free trade to be maintained with the European Union after Britain leaves the bloc, but said Thursday's announcement "has nothing to do with Brexit".

  • Reuters - UK Focuslast month

    UPDATE 2-Ford to close Wales engine plant in 2020 -union

    Ford will close its engine plant in Bridgend, south Wales, by September 2020, a trade union said on Thursday, putting 1,700 jobs at risk in the latest blow to Britain's car industry. Ford is making cuts in several markets to turn around loss-making operations and has also repeatedly warned the British government that it needs free trade to be maintained with the European Union after Brexit, the terms of which remain unclear.

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