Employees who take the buyout will get a half-year’s pay for each year of service, plus additional benefits. The automaker wants to cut 30% of its Serbian workforce.
KTM CEO Stefan Pierer says the automaker expects to sell about 15 cars in the U.S. in 2017 and reach annual sales of 30 to 40 vehicles in the future. Last year KTM manufactured some 80 sports cars.
The facility, which makes Peugeot 208 hatchbacks and Citroen C3 Picasso microvans, launches output of a third model in the second half of this year. What PSA calls a ‟B Mainstreamˮ car is the successor to the Citroen...
A newspaper reports Magna Steyr is expected to launch production of a BMW sports car that will succeed the Z4, in 2018, with a Toyota model to follow some months later. Plans call for combined production of at least...
In February, Emil Frey Group took over PSA’s import subsidiaries for Peugeot, Citroen and DS vehicles in Hungary, Croatia and Slovenia. The Swiss car importer and retailer added Czech Republic and Slovakia...
Daimler CEO Dieter Zetsche says the automaker is mulling additional capacity in Europe, while PSA Vice President Yann Vincent says PSA could benefit from expanding into emerging markets such as those in Eastern Europe.
Tofas, a joint venture between FCA and Turkish conglomerate Koc Holding, launched volume production of the new sedan in September. The car is sold as the Fiat Egea in Turkey, while FCA uses Fiat’s traditional...
Production of the SEAT Ateca already is under way. Skoda is manufacturing SEAT’s first CUV for the Spanish brand. A concept of the second new vehicle, Skoda’s first 7-seater SUV, will be shown in Geneva as...