German Coachbuilder Wiesmann Files for Insolvency
German automaker Wiesmann has filed for insolvency and is currently seeking strategic partners and investors.
Wiesmann, which specializes in manufacturing retro-styled sports cars, is a niche automaker that has been struggling as a result of declining sales with Europe’s automotive industry. Current CEO Rolf Haferkamp will remain in his position and will lead the efforts to restructure Wiesmann. Operations will continue at the German automaker’s headquarters in Germany.
The company currently has 110 employees and has a maximum annual sales of about 200 units in Europe, the Middle East, and Asia. According to the automaker, it filed for insolvency on August 14 at the Muenster court in Germany.
[Source: Automotive News Europe]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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