Misplaced Pages

#273726

102-469: Peugeot S.A. , trading as Groupe PSA ( French pronunciation: [ɡʁup pe ɛs ɑ] ) (formerly PSA Peugeot Citroën from 1991 to 2016) was a French multinational automotive manufacturing company which produced automobiles and motorcycles under the Peugeot , Citroën , DS , Opel and Vauxhall brands. On 18 December 2019, PSA and Fiat Chrysler Automobiles (FCA) announced that they had agreed to

204-610: A 38.2% share of Citroën. On 9 April 1976 they increased their stake of the then bankrupt company to 89.95%, thus creating the PSA Group (where PSA is short for Peugeot Société Anonyme ), becoming PSA Peugeot Citroën. Since Citroën had two successful new designs in the market at this time (the GS and CX ) and Peugeot was typically prudent in its own finances, the PSA venture was a financial success from 1976 to 1979. In late 1978, PSA purchased

306-564: A French car due to perceived reliability issues. He also announced that the Opel and Vauxhall brands would be elevated to new heights within Groupe PSA, including the sale of Opel and Vauxhall-branded vehicles outside Europe for the first time in many decades. On 17 February 2017, PSA announced its bid to acquire PROTON Holdings , which owns the Proton and Lotus brands, but lost out to Geely

408-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

510-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

612-457: A few months later. In May 2019 Fiat Chrysler Automobiles (FCA) announced its intention to seek a merger with Groupe Renault . However, in early June merger talks were suspended, and never resumed. On 31 October 2019, Groupe PSA announced intent to merge with FCA. The merger would be on a 50-50 all stock basis. On 18 December 2019, FCA and PSA announced that they had agreed to the terms of a binding $ 50 billion merger, expected to be implemented in

714-406: A five speed manual gearbox and produced 92 hp (69 kW) at 6,000 rpm. The 1.9 litre (1,905 cc) engine was available with a five speed manual gearbox, with an option of an automatic in the lower powered version. The eight valve version of the 1905 cc engine was available in two levels of tune; 110 hp (81 kW) or 125 hp (92 kW), with numbers varying somewhat depending on

816-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

918-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1020-802: A production capacity of 4,000 units per year at the beginning and more than 10,000 units in the near future. A PSA plant was opened in 2018 in Tunisia and in 2019 in Kenitra in Morocco. Citroën will enter the Indian market in early 2021, with the launch of the C5 Aircross SUV manufactured at a plant in Tiruvallur , India . The manufacturer of Peugeot , Citroën and DS Automobiles -branded cars and vans, 100% owned by PSA Group and formed from

1122-464: A saloon and estate, in front-wheel and four-wheel drive. No coupé model was ever offered, unlike the 504 and later 406 : only two examples of the purpose-built, two-door 405 Turbo 16 (not to be confused with 405 T16) were made. In July 1987, Peugeot unveiled ten versions of the 405 saloon simultaneously for the 1988 model year, with sales on the continent beginning in October 1987 and sales in

SECTION 10

#1732776863274

1224-407: A variety of states of tune and specification. The range was tailored to suit different export markets. The 1.6 litre saloon featured a low drag co efficient of C d =0.29, with other models varying up to C d =0.33. The 1.4 litre (1,360 cc) engine was fitted with a four-speed manual gearbox. It produces 70 hp (51 kW) at 5,600 rpm. The 1.6 litre (1,580 cc) engine was fitted with

1326-607: Is 16,250-square-metre (174,900 sq ft) and was housing around 700 employees in 2017. In the United Kingdom , Peugeot Motor Company PLC is a wholly owned United Kingdom subsidiary of PSA Peugeot Citroën that operates the Peugeot UK, Citroën UK, and DS Automobile brands. Peugeot UK's retail arm is Robins & Day which was part of Rootes Group before becoming a wholly owned subsidiary of Peugeot Motor Company PLC in 1970. Multinational corporation Most of

1428-752: Is a 50–50 joint venture with the Iran Khodro, based in Tehran . In 2020, PSA Aftermarket, the post-sales division of the PSA Group, expanded its operations in the circular economy by acquiring B-Parts , a platform specializing in the sale of used car parts. This move aligned with the group's "3R" strategy—repair, reuse, and remanufacture—focusing on sustainable automotive solutions. The acquisition also aimed to support PSA Aftermarket's goal of tripling its revenue from circular economy initiatives between 2018 and 2023, aligning with its sustainability goals. In 2008,

1530-470: Is a French-based car rental company established by Citroën in 1968. It was sold to Enterprise Holdings in 2011. Sevel ( Société Européenne de Véhicules Légers SA and Società Europea Veicoli Leggeri-Sevel S.p.A. ) was established in 1978 and is equally owned by PSA Group and Fiat . As a result of this, two factories have been built assembling three ranges of vehicles, Sevel Nord and Sevel Sud . Peugeot and Fiat's Argentine operations were also joined under

1632-449: Is a large international logistics company, established by Peugeot in 1949 and named Les G roupages E xpress de F ranche- Co mté. In November 2012, PSA sold a 75% share to Russian Railways (RZD) for €800m, but retains Gefco as the main logistics provider. Motaquip is an all-makes aftermarket parts company and was established in the UK by PSA Peugeot Citroën in 1981. In December 2014 Motaquip

1734-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1836-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1938-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

2040-611: The Hindustan Motors to sell Peugeot, Citroën, and DS vehicles in India and purchase of the Ambassador brand from Hindustan Motors at the cost of ₹ 80 Crore (€11 million). On 14 February 2017 PSA announced that it was in talks to acquire Opel and Vauxhall Motors from General Motors . The talks were in an advanced stage, but were a surprise to the press and to much of Opel's leadership as they had plans to transform

2142-632: The International Engine of the Year awards a total of eight times, from 2007 to 2014. Process Conception Ingénierie (PCI) is a French-based manufacturer of machine-tools for the automotive and aircraft industry. PSA owns 57.43% of automotive supplier Faurecia , a company created by a 1997 merger between Bertrand Faure and PSA-owned ECIA. It provides various components to Peugeot, Citroën, DS and significant interior and exterior parts to companies such as Audi , BMW and Mercedes-Benz . Gefco

SECTION 20

#1732776863274

2244-590: The National Gendarmerie . The diesel engine options included a 1.9 litre (1,905 cc) unit producing 70 hp (51 kW) at 4,600 rpm or a turbocharged 1.8 litre (1,769 cc) unit producing 90 hp (66 kW). At launch in January 1988, the 405 was available with a choice 1.6, and 1.9 carbureted engines, and an injected 1.9. Both diesel and petrol engines were available at launch. Other engines included 1.4, 1.6, and 1.8. Other styles included

2346-726: The Paris-Dakar rally. Today, three are in the official Peugeot museum, and the other is in a private collection. Racing 405s much closer in specification to the road going models were campaigned for several years in European touring car racing during the early to mid 1990s, most notably in the British Touring Car Championship and the French Supertourisme Championship. In Britain, the 405 did not achieve much success, but

2448-600: The United Kingdom beginning in January 1988. It succeeded the long-running Peugeot 305 , but also the Chrysler Alpine hatchback and Solara saloon which had been discontinued when the Talbot brand was axed a year earlier. The slightly smaller 305 was discontinued from the Peugeot range soon after the 405's launch, with production of the larger 505 ending a few years later. Peugeot's new range-topping model after 1989

2550-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2652-620: The 405 shares its floorpan with the Citroën BX , it does not have that car's hydropneumatic suspension , except for the 4x4 version on the rear axle (SRix4, Mi16x4 and T16). As with the BX, the 405 used TU / XU petrol and XUD diesel engines. The 405 was the last Peugeot vehicle sold in the United States , on sale between 1988 and 1991, including the Mi16. The 405 has been available as

2754-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2856-466: The French government each took a 13% stake in PSA, in a financial rescue operation, reducing the Peugeot family share from 25% to 14%. Following Dongfeng and the French government each acquiring stakes in Groupe PSA, various cost-cutting measures at the company turned its fortune around and gradually reduced PSA's debt, until the company began to turn a profit beginning in 2015. A new CEO, Carlos Tavares ,

2958-555: The GE, GL, GLx4, GLD, GLDT, GR, GTXi, GTXDT, Le Mans, LX, Mi, Style D, Style DT, Quasar, SRi, SRDT, STi, and STDT. Three versions of the 405 sedan were sold in North America from the end of 1988; the 1.9-liter DL and the well equipped S (with standard leather seats), both with 110 hp (82 kW), and the Mi16 with 150 hp (112 kW). The DL and S were also available in wagon form, called Sportswagon. Peugeot withdrew from

3060-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

3162-710: The Middle East as the Peugeot ROA . The Samand , which was designed to be a "national car" for Iran, is also based on the 405 platform. It replaced the long running Paykan which was itself based on the Hillman Hunter , an ancestor (in corporate ownership and model positioning terms) of the 405, having been produced by the Rootes Group and Chrysler UK from 1963 until 1979, the year that Peugeot purchased Chrysler's European operations. Iran Khodro ,

PSA Group - Misplaced Pages Continue

3264-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

3366-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

3468-462: The Peugeot family, with a holding of 7%. The alliance was intended to enable $ 2 billion per year of cost savings through platform sharing, common purchasing and other economies of scale. In July 2012, a union official said that PSA Peugeot Citroën would cut as much as 10 percent (8,000-10,000) of its French workforce of 100,356 employees on permanent and temporary contract. The jobs cut was more than previously announced. On 24 October, PSA said it

3570-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

3672-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

3774-417: The UK, respectively. He assured the leaders that jobs would be safeguarded and that Vauxhall's Ellesmere Port plant was to be used by PSA at least until 2021. Tavares announced that he wants Opel to keep its German brand identity and to embrace it, and that he would leverage Opel's pedigree of German engineering and Motorsport and use the company's heritage to reach markets and customers that may not consider

3876-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3978-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

4080-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

4182-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

PSA Group - Misplaced Pages Continue

4284-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

4386-710: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

4488-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

4590-665: The acquisition of Chrysler Europe in 1978, and some were merged to re-establish Talbot , a previously dormant marque. Chrysler Europe marques included the British Sunbeam (1901–1976), Humber (1868-1976), Singer (1905–1970), Commer (1905–1979), Hillman (1907–1976), Karrier (1908–1977), the French Simca (1934–1977) and the Spanish Barreiros (1959–1978). Cycles Peugeot produced bicycles from 1882 until 2005. In 1987, ProCycle of Canada acquired

4692-492: The autumn of 1995, the 405's replacement, the 406 was introduced and the 405 saloon was discontinued. An airbag had been available on the 405 since 1994, and standard on the left hand drive Mi16 and T16. At the beginning of 1997, the estate version of the 406 was launched, marking the end of European 405 production after ten years. The 405 was one of Europe's best selling larger family cars, particularly in France and Britain. It

4794-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

4896-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

4998-410: The combination of Automobiles Citroën and Automobiles Peugeot. Automobiles Citroën, Automobiles Peugeot, and DS Automobiles remain in operation in relation to specific retail operations in various countries but not in the development or manufacture of vehicles. PSA PowerTrain is a manufacturer of petrol and diesel engines for a range of companies including BMW , Ford , Jaguar , and Land Rover . It

5100-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

5202-507: The company into an electric-car-only brand using the platform of the Opel Ampera-e for a wide range of models. GM agreed to continue to supply PSA with Ampera-e and other electric vehicle technology. In August 2017, PSA completed the acquisition deal of Opel and Vauxhall. GM reported a loss of US $ 257 million from its European operations in 2016, sixteenth consecutive loss-making year for GM in Europe, bringing its amount of losses on

SECTION 50

#1732776863274

5304-540: The company investigated the option to buy Mitsubishi Motors but a deal could not be concluded and was called off in 2010. One outcome of the talks resulted in the Mitsubishi Outlander and Mitsubishi i-MiEV to be sold as Peugeot and Citroën in Europe. The head office of PSA Group is located in Rueil-Malmaison. The group has been renting the building since 2017, right after its construction. It

5406-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

5508-594: The continent since 2000 to more than US $ 15 billion. Some expressed concerns about what this major acquisition might do to PSA's bottom line. However, due to this amount of debt, it is likely that GM may give the brands to PSA, or sell Opel and Vauxhall at a highly reduced price. Tavares expects synergies a decade after the takeover. PSA CEO Carlos Tavares met with German Chancellor Angela Merkel and British Prime Minister Theresa May at separate meetings where he toured some of Opel and Vauxhall's operations in Germany and

5610-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

5712-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

5814-521: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Peugeot 405 The Peugeot 405 is a large family car manufactured by the French automaker Peugeot from 1987 to 1997. Its production continued under license from outside Europe in Iran by Iran Khodro Company until 2020. It was voted European Car of the Year for 1988 by the largest number of votes in

5916-461: The design was almost indistinguishable from the pre-facelift model. The windscreens were now bonded; all of these changes increased torsional rigidity considerably while still allowing a deeper opening for the bootlid of the sedan. The taillights were also redesigned and the trim piece between them removed, all in the image of the bigger 605 . The interior was also redone, with an all new dashboard and door trim, inheriting many detail parts as well as

6018-813: The domestic French market for the first time in 1983. In 1987, the company dropped the Talbot brand for passenger cars when it ceased production of the Simca-developed Horizon; the Samba and Alpine/Solara had been discontinued a year earlier. What was to have been the Talbot Arizona became the Peugeot 309 , with the former Rootes plant in Ryton and Simca plant in Poissy being turned over for Peugeot assembly from October 1985. Producing Peugeots in Ryton

6120-473: The failing Chrysler Europe (which had been Rootes and Simca ) from the troubled US parent firm for a nominal US$ 1.00, plus assumption of outstanding debt, leading to losses for the consortium from 1980 to 1985. Further investment was required because PSA decided to create a new brand for the entity for the disparate French and British models, based on the Talbot sports car last seen in the 1950s. From then on,

6222-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

SECTION 60

#1732776863274

6324-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

6426-473: The history of the contest. About 2.5 million vehicles have been sold worldwide, both in left and right drive versions, as a saloon and estate . In   early 2020, the 33-year production run of the Peugeot 405 was counted as the twentieth most long-lived single generation car in history." Its appearance is similar to the Alfa Romeo 164 , launched the same year and also styled by Pininfarina . While

6528-466: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

6630-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

6732-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

6834-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

6936-462: The leading Iranian car manufacturer produces the following models of Peugeot 405: The motorsport version of the 405, the rallying 405 Turbo 16 GR, was very different from the road going 405. It was built in a coupé body style in mid-engine configuration, had constant four wheel drive with electronically adjustable center differential like the 205 T16, as it was based on the same technology. At least four were produced, competing in hill climbs and

7038-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

7140-424: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

7242-444: The markets in the United States and Canada after the model year of 1991. Iran Khodro also produces several models derived from the 405. The Peugeot Pars , also known as the Peugeot Persia, is a facelifted 405 with a redesigned front end including clear lamp lenses and a revised rear. The Peugeot RD is a rear wheel drive car which has a 405 body and mechanical parts from the Paykan . Since 2006, it has been sold in certain markets in

7344-697: The name of Sevel Argentina S.A. ( Sociedad Europea de Vehículos para Latinoamérica ), although Fiat withdrew from Sevel in 1995. Currently Sevel builds the Fiat Ducato , Peugeot Boxer, and Citroën Jumper. The joint venture with the Chinese company Dongfeng Motor Corporation (later Dongfeng Motor Group ) was established in 1992 and produces the Citroën C-Triomphe , 207, 307 and 408 models at factories in Wuhan and Xiangyang . The Kaluga factory

7446-703: The next 12 months. The new group is incorporated in the Netherlands and has John Elkann as Chairman of the Board and Carlos Tavares as CEO. On 15 July 2020, the two companies announced that the merged entity will be named Stellantis , from the "Latin verb 'stello' meaning 'to brighten with stars.'" On 4 January 2021, both shareholders of PSA and FCA approved the merger and the deal was closed on 16 January 2021. The Peugeot, Citroën and DS Automobiles brands retain separate sales and marketing structures, but share common technology, development and assembling assets. Jean-Martin Folz

7548-676: The overall appearance from the 605. In April 1993, the T16 was introduced to celebrate the successes of the competition model, with a 2.0 litre 16 valve turbocharged XU10J4TE engine with water cooled chargecooler, constant four wheel drive with 53/47% power distribution and self regulating hydraulic rear axle. It was never built in a right hand drive model. The T16 produced 200 hp (147 kW) at 1.1 bar (16 psi) (normal boost) or 220 hp (162 kW) at 1.3 bar (19 psi) (overboost) which lasts for 45 seconds. 1,061 examples were built, with ten of these being delivered for use by

7650-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

7752-681: The range. The 500,000th 405 was produced during 1989, followed by the one millionth 405 to leave the Sochaux factory in 1990. This was also when the BE1 transmission was replaced by the BE3. In 1991, there were updates to the dashboard , steering wheel, and soundproofing, but for 1992, the Phase II model arrived with a new boot with better ingress, new rear lights and boot design, and a new dashboard. 405 production had reached over 1,500,000 by this time. In

7854-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

7956-498: The rights to distribute French-made Peugeots in North America and in 1990, Cycles Peugeot sold the North American rights to market bicycles under the Peugeot name to ProCycle. In 2001, ProCycle discontinued the Peugeot bicycle brand. In Europe, the licence to produce Peugeot-branded bicycles was sold to Cycleurope , a company making bicycles under different names, on condition that it would be reconsidered in 2004. That license

8058-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

8160-462: The terms of a binding $ 50 billion merger. On 16 July 2020, both companies announced the new name for their merged operations, Stellantis . The deal closed on 16 January 2021. As of 2022, Stellantis is the fourth largest automaker by sales behind Toyota , Volkswagen Group , and Hyundai Motor Group . Peugeot was the largest PSA brand. PSA was listed on the Euronext Paris stock exchange and

8262-455: The whole Chrysler/Simca range was sold under the Talbot badge until production of Talbot-branded passenger cars was shelved in 1987 and on commercial vehicles in 1992. All of this investment caused serious financial problems for the entire PSA group; PSA lost money from 1980 to 1985. There were some bright spots, however: mainly thanks to the success of the Peugeot 205 and in spite of Talbot sales withering away, PSA surpassed Renault in sales in

8364-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

8466-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

8568-637: The world. This led to huge investments and partnerships in South America, Iran ( Iran Khodro ) and China (Dongfeng Peugeot-Citroën Automobile). It announced plans to invest €650 million in a manufacturing plant in Sanand , India . With a capacity of 170,000 vehicles, the Sanand plant started production of the aaa in 2020. In Kazakhstan , assembly of the Peugeot passenger cars will start in June 2013 with

8670-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

8772-426: The year and the market. A 16-valve version was available with the Mi16 model and this produced 160 hp (118 kW) at 6,500 rpm and could reach a top speed of 220 km/h (137 mph). The catalyzed version produces 148 hp (109 kW) with a top speed of 214 km/h (133 mph). In 1992, the range was facelifted. While the changes were deep, including a modified bottom plate and chassis structure,

8874-442: Was PSA's CEO between 1996 and early 2007, when he was replaced by former Airbus head Christian Streiff . Streiff was sacked on 29 March 2009, a day after the company posted a full year loss for 2008. Streiff was replaced by Corus Group chief executive Philippe Varin. Carlos Tavares became CEO in 2014. PSA was actively committed to developing its market presence and sales in many fast growing developing countries and regions of

8976-599: Was a constituent of the CAC 40 index. Beginning in 2016, PSA began to outline a strategy which entailed the rapid expansion of the company, through both geographic expansion and acquisitions of other car companies. PSA announced plans to enter the Indian , American , Canadian , South East Asian , and other markets in the coming years. Headquartered in Rueil-Malmaison , PSA, with sales of 3.88 million units in 2018,

9078-623: Was built by the Russian-based joint venture between PSA Peugeot Citroën (70%) and Mitsubishi Motors (30%) established in 2011. The site builds the Mitsubishi Outlander , Pajero Sport , and the Peugeot 308 and Citroën C4 . From 2018, the Peugeot Expert and Citroën Jumpy are built on site. The joint venture with Iran Khodro was established in 2016 and produces some Peugeot models and imports other models in CBU for Iran market. IKAP

9180-554: Was close to an agreement with creditor banks on €11.5 billion ($ 14.9 billion) of refinancing and had won state guarantees on €7 billion in further borrowing by its Banque PSA Finance. On 12 December 2013, General Motors announced it was selling its 7% stake in PSA Peugeot Citroën to Padmapriya Automobile Investment Group. In 2014, Dongfeng Motor Group , the Chinese partner that builds PSA cars in China, and

9282-493: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

9384-471: Was engaged and began to implement various cost-cutting measures and expanded the model range of all three core brands, alongside the creation of a new brand, DS Automobiles . In early 2016, PSA unveiled a roadmap detailing its plan to re-enter the North American car market for the first time since 1991. On 10 February 2017, PSA announced a 50:50 joint venture with the CK Birla Group , the owner of

9486-553: Was founded by Peugeot in 1898 in Lille and later named Compagnie Lilloise de Moteurs (CLM). In 1992 SCM-CLM as it was then known became Peugeot Citroën Moteurs. The company has had a partnership with Ford Motor Company since 1998. PSA and BMW have an agreement to develop the 1.6 Prince engine . PSA also sells their engines, gearboxes and other parts to small independent manufacturers such as De La Chapelle and PGO . This PSA Peugeot Citroën 1.6-litre turbo petrol engine has received

9588-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

9690-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

9792-553: Was later withdrawn for Europe, though production of bicycles for export continued for another year. Peugeot Motocycles manufactures a range of mopeds and scooters. In 2014, Mahindra & Mahindra acquired a 51% stake in the company, and in 2019, PSA sold its remaining stake. The company owned 50% of the Chinese Jinan Qingqi Peugeot Motocycles joint venture, which became a wholly owned subsidiary of China South Industries Group in 2013. Citer

9894-500: Was significant, as it signaled the first time that PSA would build cars in the UK (car assembly at Ryton stopped in 2006 and the plant was closed). The Talbot name survived for a little longer on commercial vehicles until 1992 before being shelved completely. From 1987 to 1995, the Ryton plant also produced the Peugeot 405 saloon. On 29 February 2012, PSA announced the creation of a major alliance with General Motors (GM), as part of which GM became PSA's second-largest shareholder, after

9996-525: Was sold to an outside company to become independent of PSA as "Motaquip Limited". The head office is now based in Nuneaton, UK, with all parts distributed from a warehouse in Luton, UK. PSA wholly owns Banque PSA Finance which provides financial services, and 98.67% of GIE PSA Tresorerie which was founded in 1990 as a treasury and cash management services division. A number of marques were inherited following

10098-572: Was the eighth best selling car in Britain in 1992 and 1993. The 405 also became a popular model in Thailand , following the success of the Peugeot 505 after the Government of Thailand cancelled a restriction on CBU car imports in the late 1980s. Designed in France, the Peugeot 405 has been manufactured in: The 405 range included three petrol engines and two diesel engines, all four cylinders, in

10200-705: Was the larger 605. Estate sales began in May 1988, although the British market did not receive estate versions until October 1988. No coupé was ever offered to the public, unlike the 504 and later 406 . Right hand drive versions being produced at the former plant of Rootes / Chrysler at Ryton near Coventry , and left hand drive production taking place at Sochaux in France . Four cylinder petrol engines ranging from 1.4 to 1.9 liters and 65 to 160 hp (48 to 118 kW) were available. In 1988, naturally aspirated (1.9) and turbocharged (1.8) diesel engines were added to

10302-503: Was the third-largest Europe-based automaker, distantly trailing industry leader Volkswagen's 10.8 million and just a fraction behind Renault . In 2019, Groupe PSA was the ninth largest automaker in the world, after Volkswagen, Toyota, the Renault–Nissan–Mitsubishi Alliance , General Motors , Hyundai Motor Group , Ford Motor Company , Honda , and Fiat Chrysler Automobiles . In December 1974, Peugeot S.A. acquired

10404-576: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

#273726