Photo: original image created by autoevolution
The reality of the economic slowdown is hitting the European automotive industry hard with a fifth year of sales decline, Bloomberg reports today. One very serious consequence is that Fiat Group is closing their Lancia factory in Termini, Sicily.
The last Lancia Ypsilon has already rolled of the line, and the plant will be officially shut at the end of the year.
“The global auto sector has been suffering for years from chronic overcapacity,” Fiat Chief Executive Officer Sergio Marchionne said last week in London. “In Europe, the situation has now reached suffocation point.”
“One of my hopes is to find a will to achieve the economic stability in Europe, which will lessen the burden on the industry,” Marchionne said today in Brussels, where he joined with Daimler CEO Dieter Zetsche and Ford Europe boss Stephen Odell to discuss with the European Commission. “We need a healthy market” to be able to address the industry‘s “structural overcapacity.”
“The global auto sector has been suffering for years from chronic overcapacity,” Fiat Chief Executive Officer Sergio Marchionne said last week in London. “In Europe, the situation has now reached suffocation point.”
“One of my hopes is to find a will to achieve the economic stability in Europe, which will lessen the burden on the industry,” Marchionne said today in Brussels, where he joined with Daimler CEO Dieter Zetsche and Ford Europe boss Stephen Odell to discuss with the European Commission. “We need a healthy market” to be able to address the industry‘s “structural overcapacity.”
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