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Peugeot hopes new models would help reduce its cash consumption

French carmaker PSA/Peugeot-Citroen has said new vehicles such as the 308 hatchback and 2008 crossover would help the company boost prices and beat a goal of reducing cash consumption this year, Bloomberg has reported. The up-market model strategy "will help us to do better than halving our cash burn this year," Maxime Picat, head of the Peugeot brand, said. "The global situation is improving, and it's a good time to launch the 308." The stock climbed to the highest in almost 17 months.