DaimlerChrysler CEO Dieter Zetsche, a man who knows a thing or two about the problems facing the US auto
industry, took the opportunity to warn European Union automakers that they may eventually endure the same structural
problems their US counterparts are struggling with if action is not taken.
Europe, of course, is suffering from many of the same problems that we’ve been seeing here in the
US– particularly out of whack cost structures due to overwhelming labor costs and ever-increasing
competition from Asia. Adding to the problems is the greater diversity within the EU market. Zetsche is calling on the
automakers to focus on, well, making cars, and states that EU politicians need to do their part to clean up problems
with European social-security systems.
[Source: Financial Times]