Slovakia is part of the euro zone. While whole countries need to be bailed out or go bankrupt, the town of Zilina is peaceful – and busy. At the Kia plant, more than 253,000 cee’d, Venga and Sportage models have rolled off the assembly lines, more than the plant made all last year, Reuters says. Read More >
Renault opened negotiations on a new labor deal for France with a big squeeze, Reuters reports. Renault wants pay and working time concessions from its French workers. If Renault doesn’t get a good deal, jobs could go elsewhere. Read More >
The situation in Europe is “very volatile”, Ford CEO Alan Mulally told Reuters today in Berlin. “We don’t know whether it the European economy will stabilize or hit bottom or not because it’s continuing to decrease.” Read More >
GM told Reuters that it won’t build the next-generation Chevrolet Cruze in South Korea. Reuters says this is “raising the possibility that GM might shift the assembly to Europe to help boost efficiency at its money-losing unit there.” Read More >
Renault shows a facelifted Fluence at the Istanbul Motor Show, November 2-11, 2012. The car receives a new 1.6 16V 115 hp gasoline engine mated to a likewise new X-Tronic CVT. Read More >
As expected, Ford is closing an UK plant. Unexpectedly, Ford is closing another one right with it, bringing EU plant closings to three in two days. Ford is closing its Ford Transit plant in Southampton, and it is closing the stamping plant in Dagenham with it, says Automobilwoche [sub]. Read More >
Ford is expected to announce the closure of its van factory in Southampton, England, Reuters says. British shop stewards have been summoned to an emergency meeting at Ford’s European headquarters in Basildon, Essex, today. Read More >
Europe’s second-largest automaker and GM alliance partner PSA Peugeot-Citroen is being saved from the brink for the time being. PSA is putting the final touches on an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing, in addition to 7 billion euro ($9 billion) in government guarantees for its captive financing arm Banque PSA Finance, Reuters says. Read More >
Europe’s car crisis found 4,300 new victims: As expected, union representatives at Ford’s Genk plant in Belgium were told this morning that the plant will be closed. 4,300 workers will be out of a job. Read More >
The French government will provide multi-billion euro guarantees to GM’s alliance-partner PSA Peugeot-Citroen via PSA’s banking arm, Reuters says. Don’t bet on it happening: There is already opposition from Germany, and wait until Brussels officially hears of the deal. Read More >
The EU sent a warning shot across the bow of protectionist France. Brussels refused France’s request to monitor car imports from South Korea. According to the Wall Street Journal, import surveillance could have been Europe’s first step toward blocking or reversing tariff cuts instated by a free trade deal between the EU and Korea. Read More >
Union representatives at Ford’s Genk plant in Belgium have been summoned to an emergency meeting on early Wednesday morning. No reason has been given, but unions expect the worst, says Reuters: The closure of Ford’s Genk factory. Read More >
The European new passenger car market accelerated its downward trend in September. According to data release by the European manufacturer body ACEA, Registrations were down 10.8 percent YoY to 1,099,264 units in the EU. Nine months into the year, the market contracted 7.6 percent to 9,368,327 units registered January through September 2012. Read More >
Every day seems to bring new tales of doom and gloom for Europe. Is it time for a Continental Deathwatch?
Anemic demand is causing Volvo to shut down their main Swedish factory for one week, starting October 29th.
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