PSA will consolidate their small car production at a factory in Slovakia, as the struggling auto maker looks to cut labor costs and increase margins on small cars.
As the Bentley SUV continues its inevitable march towards production, the latest news from Bentley itself is that the SUV won’t be built in its famed Crewe, England factory, but in Bratislava, Slovakia.
Everybody has heard that Europe and the Euro are in trouble. So why does it take so long to save it? We’ll let you in on a little known secret. First, let’s go to Slovakia. The eurozone’s second poorest member quietly turned into an automotive powerhouse. Ever hear much of the Slovakian auto industry? You won’t. Global automakers such as Volkswagen, Peugeot, Kia have discreetly set up car plants in Slovakia. Parts makers followed. Wages are low – 780 euros a month on the average. Without anyone looking, Slovakia turned into the world’s top auto maker per capita. They want to keep it that way. And that’s why they don’t want to help Greece. (Read More…)