European autos
European autos
Upside: In a long-overdue restructuring of a bloated manufacturing base, European automakers scramble to cut capacity in the face of the worst sales drought in 18 years. PSA Peugeot-Citroen announces a drastic cost-cutting plan to slash 8,000 jobs in France and close a major factory north of Paris.

Downside: Politicians protest. France's new president, François Hollande, who ran on a platform to re-industrialize the country, denounces the plan as unacceptable and demands it be renegotiated. Analysts expect continued conflicts to slow needed restructuring.

By Alex Taylor III, senior editor-at-large @FortuneMagazine - Last updated July 19 2012: 5:13 AM ET
Join the Conversation
The most disliked car of the year (so far)

'Damning with faint praise' perfectly describes the critical reception for the 2013 Chevrolet Malibu Eco.

Find Your Next Car

Get the latest car news: