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The Restructuring of the Automobile Industry: A European Solution for a European Problem?

Francesco Maria Salerno


I. Introduction Car building is not for the faint-hearted. After surviving two oil crises (1973-1975 and 1980-1984), car manufacturers experienced record registration of new vehicles (1989), only to find themselves in a period of uncertainty, followed by an abrupt and very severe fall in sales (1993).1 Then came a relatively long period of stability, but within the space of just two months – between June and August 2008 – sales dropped to an unprecede


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