Are luxury cars a €4 billion dead-end for European volume carmakers?
European car manufacturers have frittered away more than €4 billion on futile and egocentric luxury car products, while ignoring mundane but crucial projects which could have buttressed profits for their bread-and-butter businesses and fought off competition from the Japanese and Koreans. Even if sales targets are met, returns are seen as too small and some analysts say the money would have been better spent on improving basic business, writes Neil Winton.
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