Yes on both. This picture was part of a large set of Letourneur & Marchand photos for sale on ebay. It had a handwritten note "Hotchkiss" on its back, but there were some other wrong attributions in that set as well. So I am not sure that it really shows a Hotchkiss. The picture is not in Dominique Pagneux's L&M book. The body style Yo-Yo had was in fashion around 1933/1934. The book mentions a Bugatti 49 rebodied by L&M in 1935, but with a 2/3-seats roadster body, and a 1934 Hotchkiss Type 620 Normale bodied as a 4-seater cabriolet. The wheels certainly look like Bugatti wheels, but there is no Bugatti emblem at the wheel hubs. So it leaves a shadow of doubt.