General Motors announced that it is expecting to see a 4 percent to 5 percent fall in Europe sales next year. According to Steve Girsky a.k.a. company’s Europe chief, General Motors is not banking on market share gains of Opel, Vauxhall brands in 2013 as the two brands are not seeing impressive sales. Moreover, the European car market is expected to see poor sales in 2013, the lowest value in 19 years. Industry organization ACEA said that in the first nine months of the year, new-car sales fell 7.2 percent to 9.72 million. Still, GM expects to break even in Europe by mid-decade. For the third quarter in Europe, GM expects to lose between $1.5 billion and $1.8 billion. Apparently, GM’s Opel, Vauxhall and Chevrolet brands in EU and EFTA countries saw a drop of 12.3 percent in the first nine months of the year.
GM sales in Europe expected to drop by 5 percent in 2013
by Andrew Christian, Email, 01 Nov, 2012
