"French car manufacturers hit". - Smart Car of America Forums : Smart Car Forum

**JPaul** · 10-24-2008, 03:58 AM

Published today: "French car manufacturers hit".
Link: Automobile : les constructeurs français touchés de plein fouet - Economie - Le Monde.fr
Synopsis: the financial crisis is affecting several French car makers.
PSA Peugeot Citroën reports a 5.2% loss of business compared to the same trimester last year, possibly resulting in a 10% average loss for 2008.
Renault, expecting earlier its profit margin to be around 4.5%, is now registering only 2.5 - 3%. Therefor, Renault will stop production for 1 - 2 weeks and reduce its fourth quarter production by 20%.
Also of note:
Volvo will eliminate 850 more jobs, on top of the 1.400 already announced.
Chrysler will cancel 1.800 jobs.
Similar decision at GM.
[Note: those are already dated according to the latest new we saw in recent days]
VW could eliminate up to 25.000 temporary positions.

Obviously, Hambach is not on the list...

Old smart · 10-24-2008, 04:15 AM

It would be as amusing as ironic to see smart pulling Mercedes-Benz Cars group's irons out of the fire!