F&I Management & Training

BMW chief executive Norbert Reithofer has warned against government intervention in the motor industry, saying it could lead to a situation where there would be only two independent carmakers left in Europe. He fears that bailouts of manufacturers could lead to irrational consequences and the wrong businesses being propped up Mr Reithofer said: "There is a danger that we will have only one or two independent manufacturers and the rest will be state or semi-state companies." Highlighting that BMW would be one of the two, he believes that the underlying cause of the crisis in the motor industry is overcapacity. Meanwhile, Dieter Zetsche, chief executive of Daimler, has said that state help was only acceptable where it was a bridging loan for an otherwise healthy company. He said: "Every industry needs structural development and this is not something that should be influenced in the long-term by governments."

DATED: 06.03.09

FEED: AW