Attention All Yugo Fans: Carmaker Zastava to be Sold in April
Serbian daily newspaper Politika is reporting that the county’s only carmaker, Zastava, will put 90 percent of its shares up for sale in April of 2008.
Most well remembered in the U.S. for producing the little-loved Yugo economy car, Zastava was wildly unsuccessful in its first attempt to build a car for American export in 1986. Despite the car’s price tag of under $4,000 new, the Yugo was often the target of critical derision.
(Click through the jump to read on about the sale of Zastava.)
The Yugo was forced out of the American market in the early 1990’s, when U.S. sanctions against Yugoslavia, and mounting civil war, threatened to topple Zastava.
Mladjan Dinkic, Serbia’s privatization minister, said on Thursday that he expected bids for the company from at least two “major international companies.
Comments
imoore
I don't think any of the major carmakers will buy Yugo. Perhaps one of the Chinese companies, just for the factory space. Once that happens, Yugo will fade into the history books for good.
The Stig
No one. Let it die.
CHARLES G.
Say what you want about the Yugo. The rear window defroster was the best feature. It always kept my hands warm as I pushed it down the street.
Indijanac
GM or Fiat are probably the front runners to buy it, since Zastava already builds the Punto and will start building Opel Astra G next year.
mikey
The remember the Yugo. Over the life of the car (not long) you would lose power as the camshaft, which hadn't been heat treated properly, slowly ground down.
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