Belfast Telegraph

Call for car firms to cut production

FIAT chief executive Sergio Marchionne estimates Europe must cut 10 to 20% of its car production capacity to deal with falling sales. Pricewaterhouse Coopers estimates Europe sold 13.5m vehicles last year, down from a peak of 16m in 2007. Mr Marchionne predicted sales will remain low until at least 2014, unless Europe's debt crisis is solved.