Volkswagen Group has announced a spending programme of over €50bn in its automotive division over the next three years.

Struggling French carmaker PSA Peugeot-Citroen has announced a drastic cost-cutting plan to slash 8,000 jobs in France and close a factory north of Paris, as it faces diving sales in crisis-hit southern Europe.

French car maker Renault said today its earnings fell in 2011 compared to a year earlier, when it booked an exceptional €2bn gain on the sale of part of its stake in Sweden’s Volvo.

DESIGNS for a carbon-conscious world took front place as car makers revealed their latest high-tech models at the Paris auto show, hoping for rebound in a struggling car market.

French automaker Peugeot-Citroen is recalling 100,000 cars from across Europe to change accelerator pedals on two models.

France’s biggest car maker Peugeot-Citroen said today it will cut another 11,000 jobs this year.

Europe’s car manufacturers are facing their worst crisis since the Great Depression and need government help to survive, the head of Renault said today.

PSA Peugeot-Citroen today slashed its full-year targets and announced “massive” production cuts after third-quarter revenue shrank by 5.2%.

The British Prime Minister today expressed his sadness at the planned closure of Peugeot-Citroen's UK plant but insisted such job cuts were “inevitable” because of global pressures.

Production of cars at Peugeot-Citroen’s UK plant was at a standstill today as workers considered their next move following the stunning news that the plant is to close with the loss of 2,300 jobs.