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Sergio Marchionne warns of strife ahead in Europe
Sat, 29 Sep 2012Fiat chief exec Sergio Marchionne today warned of troubled waters ahead as Europe's car makers prepare for a radical restructuring. Marchionne, who's the current president of trade body ACEA, said factory closures were looming and repeated his call for a concerted EU-wide response to overcapacity. He warned that national interest was blocking action to strip out excess capacity, caused after European new car demand crashed by 3 million in the past five years.
Countach Sets Record Auction Price
Thu, 12 Jun 2014A 1982 Lamborghini Countach was the highlight at a recent historics auction at the famous Brooklands Museum. The Countach was clearly the sale star, soaring to nearly three times its reserve price and settling at what is believed to be a UK auction record for this model, at £337,120 including commission and tax. The auction hall was treated to a struggle between bidders for ownership of the 8,500 mile car, which has been in professional storage for the last 23 years.
Nürburgring sold for £83m to German auto tech group (2014)
Wed, 12 Mar 2014By Ollie Kew Motor Industry 12 March 2014 11:00 The Nürburgring racetrack in Germany has been sold to German automotive and aerospace technology conglomerate, Capricorn Group, for a figure in excess of €100m (£83m), it has been announced. The Capricorn bid narrowly beat a rival offer from HIG Europe by virtue of its ‘higher purchase price and good prospects for the region’. For now, it’s business as usual.