| Volkswagen AG and PSA Peugeot Citroen, two of | | | | The selection and succession of the new chiefs is |
| the largest automakers in Europe, named new chief | | | | anchored on the auto industry's tight competition. The |
| executives to lead them fight the automakers combat. | | | | Big 3 automakers of Japan namely Toyota, Honda |
| Critics in the industry are saying that an ideal leader | | | | and Nissan, are launching new diesel vehicles to amass |
| can help the automakers find ways to patch things up | | | | a bigger slice of the automotive market. As a fact, |
| and eventually take over the scene. | | | | diesel models account for 50 percent of the car sales |
| Toyota Motor Corp. and Honda Motor Corp. are | | | | in Europe. |
| considered threats in the industry. They surge and | | | | Toyota, as what the auto reports are saying, is |
| conquer a healthy slice of automotive market. The | | | | enjoying a prominent standing in the industry. On the |
| share gets bigger and better moreover; it is high time | | | | other hand, auto parts Honda as well as parts for |
| for other automakers to aim high and make their plan | | | | Nissan need considerable modifications to achieve |
| a reality. | | | | what Toyota is enjoying these days. |
| Volkswagen named Martin Winterkorn, formerly the | | | | VW and Peugeot are cutting a total of 30,000 jobs to |
| head of the Audi luxury car unit, as the new head of | | | | limit production expenses and drop excess capacity. |
| VW's most profitable division. Winterkorn is set to | | | | Critics added that this crucial phase in the life of the |
| replace Bernd Pischetsrieder, who will be stepping | | | | mentioned automakers must not compromise the |
| down on Dec. 31. | | | | quality of their products. Car parts for Volkswagen |
| "When Pischetsrieder's contract came up for renewal | | | | and Peugeot are undergoing rigorous test and |
| in May, there was a feeling that there were a lot of | | | | enhancements to bring about state-of-the-art vehicles. |
| camps, including the works council backed by Piech, | | | | "The auto world is highly unstable right now,'' said David |
| that were trying to undermine him," said Mark Fulthorpe, | | | | Cole, chairman of the Center for Automotive |
| an analyst at CSM Worldwide in Byfleet, England. | | | | Research in Ann Arbor, Michigan. "It's changing its basic |
| Consequently, Peugeot named Christian Streiff, | | | | business model, so naturally you would expect to see |
| previously the head of Airbus SAS, to succeed the | | | | changes in the head offices as well. |
| about to retire head, Jean-Martin Folz. | | | | |