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Industry: Email Alert RSS FeedZastava is for sale, but who wants it?(News)
Automotive News Europe, September, 2002 by Wright, Chris
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Byline: Chris Wright Automotive News Europe
Serbia is trying to sell Zastava, builder of the much-maligned Yugo cars, in the country's first privatization since Yugoslavia broke up.
But it will be hard for the government to sell the company for any meaningful amount, analysts said.
The Yugoslavian civil war and poor-quality reputation of Zastava vehicles have virtually destroyed the business. Zastava no longer even has a dealer network.
In the late 1980s Zastava built up to 200,000 cars a year sold in western Europe and the USA. This year it will build just 18,000.
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