UK car industry trouble ahead..?
Discussion
http://www.telegraph.co.uk/business/2017/02/18/fre...
So unions threatening strikes at Mini and RR over pensions (they're trying to diddle them out of their final salary pensions) and Vauxhall/Opel in ropey position having made $10bn in losses over the past decade and haven't clocked a profit since 2009. PSA Groupe (Peugeot/Citroen) are looking at taking them off GM's hands and there is worry of jobs being lost (and I suppose a continually failing entity means jobs were somehow safe?)
As an aside, I always thought Peugeot/Citroen were just as dire financially, but it seem their CEO Carlos Tavares has steered the ship pretty well since he took over and they're in much better shape than they were. Wondering what he would do to turn Opel's fortunes around? They don't seem to make bad cars.... they just seem so inconsequential and irrelevant.
The pensions row sounds bad. Of course, if I had a final salary pension, I wouldn't want to give it up. But plainly these things must simply be unaffordable. Many places no longer offer them and haven't for ages and there have been similar attempts to remove them in the past. It can't just be a sly money grab but legitimately bad for the bottom line and ultimately the existence of the company(?)
So unions threatening strikes at Mini and RR over pensions (they're trying to diddle them out of their final salary pensions) and Vauxhall/Opel in ropey position having made $10bn in losses over the past decade and haven't clocked a profit since 2009. PSA Groupe (Peugeot/Citroen) are looking at taking them off GM's hands and there is worry of jobs being lost (and I suppose a continually failing entity means jobs were somehow safe?)
As an aside, I always thought Peugeot/Citroen were just as dire financially, but it seem their CEO Carlos Tavares has steered the ship pretty well since he took over and they're in much better shape than they were. Wondering what he would do to turn Opel's fortunes around? They don't seem to make bad cars.... they just seem so inconsequential and irrelevant.
The pensions row sounds bad. Of course, if I had a final salary pension, I wouldn't want to give it up. But plainly these things must simply be unaffordable. Many places no longer offer them and haven't for ages and there have been similar attempts to remove them in the past. It can't just be a sly money grab but legitimately bad for the bottom line and ultimately the existence of the company(?)
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