He did not rule out a sale, but asked why such a sale would not be part of an asset sale programme to improve profitability, he said. "Because that's cash, not profitability. There's a big difference between putting cash in the bank and generating profit."

Peugeot is preparing to sell 14 percent stakes to Chinese partner Dongfeng Motor Group and the French state in a 3 billion euro (2.4 billion pounds) share issue.

Tavares, a former head of operations at Peugeot's rival Renault, was speaking to a press panel organised by French trade publication 7pm Auto in collaboration with Reuters, his first full interview since taking operational charge at Peugeot last month. Boss says will not sell faurecia as part of plan to improve profitability

(Reporting by Andrew Callus and Gilles Guillaume; Editing by Brian Love)

Stocks treated in this article : FAURECIA, PEUGEOT, Dongfeng Motor Group Co. Ltd
Valeurs citées dans l'article : FAURECIA, PEUGEOT, RENAULT, Dongfeng Motor Group Co. Ltd