PEUGEOT DENIES MMC LINK: Mitsubishi Motors shares rose to a six-month high after an announcement that it was in talks with PSA Peugeot Citroën, but the French car maker later denied progress on plans for co-operation. The comments damped hopes that the Japanese car maker might have a scheme to stave off bankruptcy.
A Peugeot spokesperson said the company, as part of its co-operation policy, had indeed been in contact with MMC, as well as most international manufacturers. "We have no co-operation project with Mistubishi at this time," he added.
SMART DENIES ULTIMATUM: DaimlerChrysler's struggling microcar unit Smart GmbH denied reports that its chief executive, Ulrich Walker, expected it to make a profit in the next three to four years.
"Mr Walker said his personal target was to reach the break even as soon as possible," a spokesman said.
"That was definitely not said," the spokesman said.
Smart, known for its two-seater ForTwo (above), has failed to live up to expectations since its 1998 debut and was blamed for spoiling earnings at parent Mercedes this year.
SAAB UNDER THREAT: A General Motors review of its Saab subsidiary could lead to the upmarket car brand being axed, if the heavy investment needed to revive it is deemed unjustified.
GM said there was only an outside chance that the Swedish marque would be killed off by the review, due to be completed within three months. But even a remote threat of closure is likely to prompt a political storm in Sweden, where the automotive industry is one of the most important employers.
ARMAGEDDON IT: Last week's Greater LA Motor Show saw the launch of some interesting concepts but for locals the "Armageddon Truck" (above) probably took the cookie. The Ford F-150 Super Cab 4x4 comes complete with a water cannon mounted in the truck bed, perfect for the next time the City of Angels erupts into riotous frenzy, or perhaps for the Hollywood star who finds the attentions of fans getting out of hand.