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 said, adding that an
existing 20 percent savings goal for China will be "hard to
(Reporting by Joseph White; Writing by Laurence Frost, editing
by David Evans)