Bargain Smarts sold in Hamburg
FRANKFURT - A Hamburg electronics superstore sold over 100 Smart cars in four days through a special offer. The deal feat-ured a Nokia 3210 mobile phone, a two-year contract with service provider Debitel, a hands-free set and a Smart minicar for just DM11,111 (A5,620). The car's list price in Germany is DM15,980. The promotion was limited to the Hamburg area. Retailer Media-Markt bought the cars from a Smart dealer but refused to disclose which dealer it was.
'We are keeping this secret because the dealer might face problems from Smart,' a spokesman said.
BMW to reaffirm support for Rover
BMW plans to reaffirm its backing for loss-making Rover. That commitment has driven off venture capitalists planning to make a bid for Rover.
A consortium of British and US venture capitalists, thought to include Rover executives, is understood to have drawn up proposals to buy Rover for an estimated A2.0-2.2 billion if BMW decided to sell.
But BMW is expected to underline its support for Rover this week in a letter to shareholders.
Reuters News Service
Cost cuts will continue at Renault
PARIS - Renault plans a further cost-cutting program when its present campaign finishes this year. The new three-year plan will run between 2001-2003.
In 1997 Renault launched a cost-cutting program with the aim of becoming 'the most competitive carmaker in Europe' by 2000, according to Chairman Louis Schweitzer.
Renault is once again aiming for savings of FF20 billion (A3 billion) between 2001-2003. But this time the company will focus primarily on non-manufacturing operations such as distribution and marketing.
'In the next stage we will be reducing costs associated with every part of the business, from when the car leaves the factory to when it reaches the customer,' said a spokesman.
Stephane Farhi. Reuters News Service contributed
A chart listing suppliers to the Fiat Punto in the January 17 issue failed to list the Italian firm ASK as the only supplier of loudspeakers, antennas and coaxial cables to the car.