DECEMBER 12, 2001
European car makers worry as Fiat cuts back
The European car companies may be talking big about starting their own Grand Prix championship but the industry is worried about what cuts will be needed as a result of the current recession.
Although car sales have been kept up thanks to great deals offer the demand for new machinery is expected to be down dramatically next year and companies which are carrying large debts are therefore worried. Other companies are also heavily indebted at the moment, notably Renault, DaimlerChrysler and Volkswagen.