Cruising through southeast Texas in his Fiat 500, Scott Ruczko used to stick out among the hulking pickups and sport-utility vehicles. He’s starting to get more company after sales of the diminutive Italian car doubled last year, making good on Fiat SpA’s expansion strategy.
General Motors Co. said Europe’s car industry will remain unprofitable at current vehicle pricing levels, while Volkswagen AG said some competitors are at risk of going out of business without state aid.
Efforts by PSA Peugeot Citroen and Fiat SpA to end losses in Europe could cost more than 500,000 people their jobs as automakers and parts suppliers grapple with the effects of the European sovereign debt crisis.
Klaus Doerrzapf, who has solar panels on his home, has no plans for an emission-free car in his garage. He’s one of the reasons why automakers like Nissan Motor Co. won’t recoup investments in electric vehicles anytime soon.
Stephen Odell , the Ford Motor Co. veteran who has been chief executive officer of Volvo Cars since 2008, will run Ford’s European unit after Zhejiang Geely Holding Co. completes a takeover of the Swedish carmaker.
Bayerische Motoren Werke AG will sell cars over the Web for the first time as the world’s largest maker of luxury vehicles seeks an inexpensive way to reach more buyers to recoup spending on its electric models.