Europe's great car war
The fracas over Renault's closure of its Belgian factory is an indication of the rotten state of Europe's car industry. There is worse to come
AFTER a ten-year run of profits, nifty products (such as the Clio, Twingo and Megane) and partial privatisation, Renault is back in trouble. Later this month the sickest European car maker will announce losses of around FFr5 billion ($864m) for 1996. About half that loss will consist of provisions for the closure of its Belgian factory announced abruptly in a brief statement on February 27th, on the eve of the Geneva Motor Show.
This article appeared in the Business section of the print edition under the headline “Europe's great car war”
From the March 8th 1997 edition
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