Pursuits
VW Threatens to Quit Europe Auto Group on Marchionne Spat
This article is for subscribers only.
Volkswagen AG threatened to leave the ACEA European automakers association in response to comments by Fiat SpA Chief Executive Officer Sergio Marchionne, a measure of rising tensions in the industry as sales slump.
According to a report in the New York Times published yesterday, Marchionne suggested VW’s pricing strategy was creating a “bloodbath.” The newspaper said that auto executives, including Marchionne, who is also ACEA’s president, accuse the German carmaker of exploiting the debt crisis to expand its market share.