Zavasta For Sale. One Careless Owner
The Associated Press (via The Detroit News) reports that the car company that built the Yugo will be up for sale come springtime. Zastava is government-owned carmaker. Is only one in Serbia. With an asking price of less than $4k, the Yugo (I bet you were thinking the company) arrived in the US in 1986. The lackluster Yugo quickly became the poster child for cheaply made cars; Consumer Reports magazine claimed it “barely qualified as a car." Zastava produced some 15k cars in 2006, which is “far below” the company's potential capacity of 60k cars a year. Looking for a way out of the car biz, the government’s Privatization Agency placed an ad in the Politika Daily newspaper announcing that some 90 percent of the company’s shares will be sold off next April. The asking price for Zastava will be made public in the spring, but privatization minister Mladjan Dinkic says he expects “at least two major international companies to take part in the bidding." Perhaps VW fancies one more European economy brand to add to SEAT, Skoda and VW. Perhaps not.