It probably is widely known now that Ford Motor Company has dropped out of the Australian automotive market. While many were eager to see the Mustang down under, that just isn't going to happen. Ford lost a grand total of $141 million in '12-'13 and that is where it ends. Europe seems to be the next frontier for American vehicles. While an Aussie Mustang will be missed, don't pencil in a victory for the Camaro just yet. According to Bloomberg, GM has lost $18 billion in the EU since 1999. That said, GM lost $1.8 billion last year and is planning on a $2 billion dollar loss this year. Whats that mean? Well, most experts agree, GM is about to close shop and head home.
Nothing pleases me more than to see a dirty, rotten, good for nothing company repeat history, while throwing money at Nurburgring. This GM/EU market flop has an overwhelming affect on R&D across the board since "global" is the word.
Ford will halt all production of it's vehicles in AU in 2016. I imagine GM won't make it to EU to see the Camaro off. Chevrolet in general will most likely continue to test cars on Nurburgring... and that's all that really matters. Ford was smart enough to abandon a region where it had no hope of a turnaround. GM should make same move in Europe.
It wouldn't surprise me if GM literally had no idea they were losing $2,000,000,000 a year in Europe. In their defense, they never lost a dollar in Europe....... only Euro
Just for reference, General Motors had a $4.9 billion dollar profit in 2012 after the $1.8 billion lost in Europe. That's around 27% of profit lost to business as usual. No worries guv'na!!! Mr. Ammann said they can make that $20 billion back before the middle of the decade (this decade).
Wow, no sense of physical limitations at all... Another simulation?
Lets see...
13 straight years of losses in Europe? Check
$20,000,000,000 in the hole? Check
Making $20b profit in two years? Check?
Bloomberg reports that GM has lost $18 billion in Europe since 1999. After posting a full-year loss of $1.8 billion last year, the largest U.S. car company said it would lose another $2 billion this year. And, as the overall market in Europe continues to shrink, GM's part of that shrinking pie has dropped sharply. The AECA announced that in Europe overall sales fell 7.1% in the first four months of this year. GM's sales have been worse than most of its competitors over that period. Its unit sales have fallen 10.5% to 317,546. In contrast, rival Volkswagen's sales are off only 3.4% to 997,186.
GM is in a losing game in Europe, as Ford was in Australia. Like Ford, it should cut its losses and run.
Nothing pleases me more than to see a dirty, rotten, good for nothing company repeat history, while throwing money at Nurburgring. This GM/EU market flop has an overwhelming affect on R&D across the board since "global" is the word.
Ford will halt all production of it's vehicles in AU in 2016. I imagine GM won't make it to EU to see the Camaro off. Chevrolet in general will most likely continue to test cars on Nurburgring... and that's all that really matters. Ford was smart enough to abandon a region where it had no hope of a turnaround. GM should make same move in Europe.
It wouldn't surprise me if GM literally had no idea they were losing $2,000,000,000 a year in Europe. In their defense, they never lost a dollar in Europe....... only Euro
Just for reference, General Motors had a $4.9 billion dollar profit in 2012 after the $1.8 billion lost in Europe. That's around 27% of profit lost to business as usual. No worries guv'na!!! Mr. Ammann said they can make that $20 billion back before the middle of the decade (this decade).
Wow, no sense of physical limitations at all... Another simulation?
Lets see...
13 straight years of losses in Europe? Check
$20,000,000,000 in the hole? Check
Making $20b profit in two years? Check?
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