Business: Ford Man in VW's Future

Although it is scarcely a consolation to Detroit, the big European automakers are also having their problems. British Leyland, which is one of Britain's largest non-nationalized industrial firms, has been forced to go, hubcap in hand, to Harold Wilson's Labor Government for a five-year loan of $230 million or so to help it get over a severe cash shortage caused by plunging sales. Peugeot and Citroen have sought and received financial backing from the French government for a desperation merger. Italy's Fiat, hit by a sharp decline in sales, is struggling to unload...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!