OVERCAPACITY MAY LEAD TO FURTHER LAYOFFS, EUROPEAN CAR INDUSTRY BOSS WARNS
May 1st, 2013
THE EUROPEAN car manufacturing industry has overcapacity stretching to 30% to 35% and this may lead to further layoffs, Ivan Hodac, secretary general of the European Automobile Manufacturers’ Association (ACEA) has warned. Speaking in an exclusive interview with wardsauto from his office in Brussels, the European car industry boss said: “We cannot continue running this industry with 15 to 20 factories [operating at] below 50% of their capacities.”While he avoided saying which car producers will be next to downsize in Europe, Hodac underlined: “It’s not ...
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