European new-car sales rose 8.6 percent in October, driven by robust demand in Germany and France and a rebound in demand for Volkswagen Group brands that were hit by the introduction of new emissions rules last year.
PSA Group and Fiat Chrysler Automobiles have no plans to scrap any of their brands following their $50 billion merger, PSA CEO Carlos Tavares told a French television station.
Fiat Chrysler Automobiles and PSA Group have said they will not to close factories if they merge but this promise is likely to come under heavy strain as the combined group would have spare production capacity of almost 6 million vehicles in a slowing autos market.
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