When a traditional company disappears
03/22/2023
Do you remember Glas or NSU, Panhard or Innoncenti? Exactly, all car companies that were taken over at some point and disappeared. Of course, the same thing happens not only in the automotive industry, but also in the banking sector, as we were able to witness first-hand last weekend.
And why is this relevant for classic car or motorsport enthusiasts? Well, Credit Suisse has certainly made appearances in the context of old and fast cars, for example as a sponsor of the Monaco Grand Prix Historique or the Goodwood Revival. We can also remember the advertising on Sauber's F1 cars.
Not everything Credit Suisse did in connection with old cars was good, but the bank made it possible for some events to survive or to have exciting starting fields. A lot of money flowed in and this money will probably now be missing in one place or another.
Let's hope that someone else will follow in Credit Suisse's footsteps and that there will be no unexpected knock-on effects from the company takeover, especially in the classic car sector.
