Hourly workers at Ford's plant in Genk, Belgium, will get $750 million in severance as part of a deal to close that factory by the end of 2014. The per-worker severance payment is less than what GM spent in 2010 to close its factory in Antwerp, Belgium
Skoda is confident that deliveries this year will rise as the introduction of new or updated models, including a new large SUV, the Octavia compact and the Rapid Spaceback compact hatchback, offsets a drop in European demand.
The European Union's industry committee has backed a compromise that would give carmakers limited leeway in the race to cut CO2 emissions in line with targets while rejecting German calls for more lenient rules.
Mazda hopes to have a bigger impact in the shrinking mid-sized segment with the new Mazda6. Buyers are increasingly switching to crossovers from sedans. As a result, European sales of mid-sized cars dropped by 13 percent to 751,805 last year, according to researchers JATO Dynamics.