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Stellantis plans to cut one in five French outlets in dealership revamp

05 Tháng Giêng 2023
Stellantis plans to cut one in five French outlets in dealership revamp © Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes
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(Corrects to "cut" from "shut" in headline, lead)

By Gilles Guillaume

PARIS (Reuters) -Stellantis will ultimately cut about one in five retail outlets in France, the automaker said on Wednesday, as it seeks to restructure its distribution network to reduce costs and prepare for the era of electric cars.

The Franco-Italian group, whose brands include Peugeot (OTC:PUGOY), Citroen and Fiat, is racing to gain more flexibility in its sales network to adapt to new trends and customer demands as cars are becoming increasingly electrified and software-driven.

"We will have fewer physical sites", said Guillaume Couzy, Stellantis country manager for France, but added there would be "just as much or even more" contact between the company's brands and potential buyers.

The company's future outlets will be more multi-brand, he added, so customers will find a broader offer at each dealership among the eight brands Stellantis markets in Europe.

The company's plans for reorganising its business relations with dealerships, branded the "New Retailer Model", is currently in the final stages of discussions between the parties involved.

France's new car sales fell by nearly 8% in 2022, with the slight improvement seen since the summer unexpectedly fizzling out in December.

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    GBP/USD 1.2361 ↑ Sell  
    USD/JPY 129.95 Buy  
    AUD/USD 0.7096 ↑ Sell  
    USD/CAD 1.3344 ↑ Buy  
    EUR/JPY 141.21 ↑ Sell  
    EUR/CHF 1.0027 ↑ Sell  
    Gold 1,923.40 ↑ Sell  
    Silver 23.750 ↑ Sell  
    Copper 4.2547 Neutral  
    Crude Oil WTI 81.35 ↑ Buy  
    Brent Oil 87.75 ↑ Buy  
    Natural Gas 2.785 ↑ Sell  
    US Coffee C 167.20 Neutral  
    Euro Stoxx 50 4,165.35 ↑ Sell  
    S&P 500 4,060.43 ↑ Buy  
    DAX 15,129.35 Neutral  
    FTSE 100 7,751.30 ↑ Sell  
    Hang Seng 22,642.50 ↑ Sell  
    Small Cap 2000 1,903.06 ↑ Buy  
    IBEX 35 9,028.93 ↑ Sell  
    BASF 52.730 ↑ Buy  
    Bayer 56.09 ↑ Buy  
    Allianz 221.80 ↑ Buy  
    Adidas 148.00 ↑ Buy  
    Lufthansa 9.720 ↑ Buy  
    Siemens AG 143.70 Neutral  
    Deutsche Bank AG 12.205 ↑ Buy  
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