Detroit 3 On Path To Lose $4 Billion In Europe This Year Alone

Agent009 submitted on 9/28/2012 Official Bell & Ross Timestamp: 1:16:06 PM

4 user comments | Views : 2,810 | Category: Misc News | Source: | SOURCE: www.detroitnews.com

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Detroit's leading automakers are reaping near-record profits after cutting back their U.

S. operations during the collapse in 2008-09 of the American auto market.

But now their recovery is threatened by a meltdown spreading across Europe that has plunged the regional operations of General Motors Co. and Ford Motor Co. and Chrysler Group's partner Fiat SpA into the red.

Fiat SpA, Ford of Europe, GM's German carmaker Adam Opel and its new partner PSA Peugeot Citroen are on track to lose a combined $4 billion this year as auto sales in the region tumble to their lowest level since the mid-1990s.

 


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Detroit 3 On Path To Lose $4 Billion In Europe This Year Alone

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Agent009

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User Comments

vdiv

I am sure there are plenty of Chinese car makers with big ambitions salivating on the sidelines and waiting for the fire sale.

— vdiv (View Profile)

Posted on 9/28/2012 2:06:34 PM | reply to this comment | Votes: 1   

PLAY

Brussels needs to address the regions overcapacity. Automakers need more flexibility if Europe wants auto manufacturing to continue in Europe.

— PLAY (View Profile)

Posted on 9/28/2012 3:56:05 PM | reply to this comment | Votes: 1   

Steve

No worries. The next round of bail-outs will cover those corporate losses. BOHICA!*

(*Bend Over, Here It Comes Again)

— Steve (View Profile)

Posted on 9/28/2012 11:21:45 PM | reply to this comment | Votes: 3   

HughJass

This wouldn't happen if the U.S. gov't just made it standard practice to cover all losses incurred so this way they wouldn't have to show red ink on the books. Works for our favourite Asian car manufacturers.

— HughJass (View Profile)

Posted on 9/30/2012 6:08:01 PM | reply to this comment | Votes: 0   

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