Arab Today, arab today gm and ford\s us boom absent in europe
Last Updated : GMT 18:08:03
Arab Today, arab today
Arab Today, arab today

GM and Ford\'s US boom absent in Europe

Arab Today, arab today

Arab Today, arab today GM and Ford\'s US boom absent in Europe

Detroit - AFP

They may have rebounded at home in the United States, but US automakers General Motors and Ford are losing ground in the troubled but strategic European market. In the world's top two auto markets, sales jumped 11 percent in the United States last year, and GM and Ford scored strong performances in China. But Europe remains a black hole. GM Europe affiliate Opel/Vauxhall saw its market share drop from nine percent to 6.7 percent between 2005 and 2013, and from 8.3 percent to 7.4 percent for Ford, according to Ernst & Young analyst Jean-Francois Belorgey. Both companies suffered losses last year in old Europe, and have yet to reveal the figures. They have been in the red for years and GM's losses alone hover around $18 billion since 1999, according Germany's CAM institute director Stefan Bratzel. As with other mainstream automakers, they suffer from a collapse in European sales since 2007. The trend weighed down their accounts and forced them to shutter plants -- one in Germany for Opel, while Ford closed two in Britain and another in Belgium. Nevertheless, "their situation is not the same," Bratzel stressed. Ford hopes to balance its books in 2015, on the back of reduced costs and the launch of new models. In December, the Detroit automaker unveiled its new Ford Mustang, which will be marketed for the first time in Europe, as well as two concept cars. "Despite the difficult situation in the auto market, Ford continues to invest heavily in creating new models in Europe," said Stephen Odell, executive vice president and president of Europe, Middle East and Africa at Ford. GM to pull Chevrolet out of Europe in 2016 The company also plans to boost its market share of sports utility vehicles, which it says should grow 22 percent from 2013 to 2018 in Europe, thanks to a new version of its Edge crossover. "Ford is considered a serious competitor in this important sector," Belorgey said. The company also reduces research and development, purchase and production costs by developing models that can be sold worldwide. Opel, on the other hand, shares little with its parent company. "It's difficult to be both part of a big group and be a semi-independent automaker," Belorgey said. Under the partnership launched two years ago between GM and PSA Peugeot Citroen, Opel and the French firm had been set to share platforms such as the vehicle's body  and thus cut costs but their tie-up has since been reduced. So Opel is relying more heavily on its new models to improve its outlook, with 23 planned by 2016. It has already launched its Adam city car and Mokka compact SUV. GM is also cleaning up house by removing Chevrolet, which only had one percent market share, in 2016 from its European brands. "It will take time, energy and money," warned Bratzel, echoing other analysts who say Chevrolet's clients may not go to Opel. And it remains to be seen how long GM's incoming CEO Mary Barra will support Opel despite its loses. Improving European sales is among the company's "key priorities," she told AFP on the opening day of the Detroit Auto Show. "We have a very solid team at Opel." The slow recovery of the European auto market and their new models should nonetheless allow both GM and Ford to regain ground, analysts say. And they have two assets: "Regaining a foothold in their home market, with good margins, and China," said Yann Lacroix of global credit insurance firm Euler Hermes.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm and ford\s us boom absent in europe Arab Today, arab today gm and ford\s us boom absent in europe

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday