The prospects for the car industry

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All the signs are that governments in Europe as well as the new administration in Washington will help their national carmakers鈥攁t a price. The president of France, Nicolas Sarkozy, has made it clear that support for PSA Peugeot-Citro毛n and Renault will depend on production staying in the country. Other governments are likely to impose similar conditions. However, because of their relative financial strength, European and Asian car firms will be better placed than the Big Three to resist political interference in the running of their businesses once the crisis is over.

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