Word: fiat
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...Europe now ranks fifth in its share of the highly competitive European market, behind Volkswagen (15.1%), Fiat (14.4%), PeugeotCitroen (12.7%) and Ford (11.6%). But at its current rate, GM Europe may soon move up a notch or two. The company, which makes cars in West Germany, England, Spain and Belgium, is considered the most nimble pan-European competitor at the moment. "If I were the rest of the Europeans, I'd be scared to death of GM," says James Harbour, an automotive consultant in Troy, Mich...
...Europe's 200-employee corporate staff in Zurich is known for moving with great speed, notably in its agreement last December to acquire 50% control of Swedish carmaker Saab for $600 million. GM whisked Saab from under the nose of Fiat, which until the last minute thought it would be the successful suitor. GM Europe was also quick to set up a joint manufacturing agreement with Hungarian producer RABA, the first West European company to sign such an accord...
...Europe's restructuring will give the company a strategic edge as European trade barriers fall. Compared with such competitors as Fiat and Peugeot, which are focused on their home markets, GM's manufacturing and marketing operations are now spread over many markets. "In twelve of 17 countries in which we sell, GM is among the top three producers," says GM Europe president Robert Eaton...
...latecomer to the Saab wooing game, which began when Ford started courting the company earlier this year. After the collapse of those negotiations, auto-industry analysts expected Italy's Fiat to be the winning suitor. For Saab-Scania, which lost $123 million on its car-making operations in the first half of 1989, the advantage of the deal was access to GM's deep pockets. GM will gain badly needed production capacity at Saab's five plants in Europe, plus a stronger position in the U.S. and European luxury-car markets...
...prize, which was established in 1987, seeks "to strengthen public thought and action concerning the ethical problems that confront us," according to Fiat...