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Sergio Marchionne warns of strife ahead in Europe

Fiat 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.

Hyundai beefs up its WRC team

Hyundai revealed last year that they’re preparing to take on the World Rally Championship (WRC) from 2014 when a rally car based on the i20 will take to the world rally stage to cast some sport fairy dust on Hyundai’s showroom cars. At that time we had little information about the team, but in January we learnt that Hyundai had appointed Michel Nandan to head up their WRC efforts, a good move as Nandon was the technical director for the Peugeot WRC team until 2005, so he knows his stuff. Now we learn that Hyundai is beefing up its WRC team as it prepares for a full season of WRC in 2014.

UK car sales slump as credit crunch bites

By Nigel Wonnacott Motor Industry 07 July 2008 13:18 It’s finally happened. The new car market has succumbed to the economic slowdown and punters are staying away from showrooms in droves. Latest figures from industry trade body the SMMT showed an 11.9 percent fall in private sales in June 2008 to 83,425 cars.