FIAT Buys Majority Interest in Yugo
According to Automobilwoche, FIAT signed an agreement to purchase 70 percent of Yugoslavia's Zastava in Belgrade Wednesday. This is a marriage made in Heaven — if you're a comedian. Picture Jay Leno combining Yugo jokes with "Fix It Again, Tony" witticisms. Or Stephen Colbert commenting on a car the grandchildren of Mussolini would build in joyful cooperation with the children of Milosevic. FIAT is investing 700 million Euros in a new modernized plant which will build 200,000 subcompact cars in (you guessed it) 2010 with a new mid-class car to follow. And the punchline of the biggest joke? The Yugo car Americans loved to hate was derived from a FIAT: the 127 model.
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