Fiat accuses Volkswagen of being ‘too aggressive in pricing strategy’July 26, 2012 - 13:45 AMT PanARMENIAN.Net - Italian car maker Fiat's chief executive Sergio Marchionne accused German rival Volkswagen of being too aggressive in its pricing strategy, when conditions are already tough in the European auto industry, according to Reuters. "It's a bloodbath of pricing and it's a bloodbath on margins," he said. Marchionne, who is also head of U.S. automaker Chrysler, called for the European Commission to step in and help the sector face its huge overcapacity problems. "What they should do is coordinate a rationalization of the industry across the producing companies," he said. "The ones that really have not acted on this are the French and the Germans, who have not taken out any capacity at all." Results from European mass-market car makers this week are set to mirror the region's debt crisis as Germany's Volkswagen weathers the deepening slump while peers PSA Peugeot Citroen, Renault and Fiat struggle with plunging Mediterranean sales. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |