After Philippe Varin steered steelmaker Corus Group Ltd. away from bankruptcy 10 years ago, he was made commander of the order of the British Empire for “services to the U.K. steel industry.” As chief executive officer of PSA Peugeot Citroen, there’s scant chance he’ll get a similar honor in France.
The German auto parts industry needs to increase sales and profit by at least 5 percent annually to survive, Handelsblatt reported, citing a study by the CAR-Center Automotive Research unit at the University of Duisburg-Essen.
Chris Bangle, Bayerische Motoren Werke AG’s former design chief, once likened the German carmaker’s lineup to a bratwurst in three different lengths. Now, there’s a lot more on offer, including convenience sizes.
Even as car sales across Europe have plummeted in recent years, automakers could count on Germans to buy with little discounting. Now, at least one dealer is resorting to Groupon Inc. coupons to boost sales.