European car sales fell 5 percent in August with PSA/Peugeot-Citroen and Volkswagen Group hit hardest by the euro-zone slump, which is keeping customers out of showrooms.
Tag Archives: Europe Recession
Ford to expand lineup for European recovery
Ford of Europe is adopting a tactic that Ford Motor Co. used during the 2008-09 recession in the United States.
Fiat plans to extend layoffs for 5,300 Mirafiori factory workers
Fiat plans to extend temporary layoffs at its main Mirafiori factory in Italy amid slumping car demand in Europe and a dispute with unions over labor contracts, three people familiar with the matter said.
Problems easing in Europe; Ford, GM still concerned
The smaller second-quarter European losses posted last week by General Motors and Ford Motor Co. appeared to signal that the region’s car market has reached its nadir and is beginning to heal.
But neither automaker seems to believe that — or at least they’re not banking on a market rebound to cure the weak demand and capacity glut that drained nearly $2 billion from each company last year.
Ghosn says Europe car market may fall further in next 2 years
Renault CEO Carlos Ghosn said the European car market will probably shrink further in 2014 and 2015 as rising unemployment continues to sap consumer demand.
“I think that 2014 and 2015 are going to be at best stable in Europe,” Ghosn said. “More realistically, we may see another decrease — maybe not as violent or as deep as the ones we have seen for the last years,” he said.
