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Global GM Sales Slip 1.3% for First 9 Months of 2015

But maker counters that sales rose in most key regions.

by on Oct.15, 2015

GM wants to build the best cars, not sell the most cars, says CEO Mary Barra.

General Motors sold 7.15 million cars, trucks and crossovers around the world during the first nine months of 2015. That was down 1.3% compared to the same period the year before.

The Detroit giant pointed to a number of problems it faced during the first three quarters, including a weakening market in China, as well as economic problems in South America. If anything, GM officials see the glass as more than half full, noting sales actually increased in four of the world’s largest markets, including the United States.

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“Our unwavering focus on the customer is paying off in our largest and most important markets as we execute one successful launch after another in the right segments,” said GM President Dan Ammann. “At the same time, we have reacted quickly to challenging macroeconomic environments in other markets and have shown the discipline to exit situations where we see no long-term path to acceptable returns.”

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GM’s New CEO Sees Turnaround in Europe

China, meanwhile, provides “great opportunities.”

by on Jan.24, 2014

New GM CEO Barra said she expects the company's European unit to be profitable by mid-decade, but said there is no firm deadline for that to happen.

The massive losses racked up over the last 16 years in Europe pose one of the toughest challenges handed over to GM’s new CEO Mary Barra.

But while the new chief executive officer says she has no hard and fast deadline for completing the turnaround of GM Europe and its principal subsidiary, Adam Opel AG, she is optimistic the worst is over.

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“We said we expect GM Europe to be profitable by mid-decade,” the 52-year-old Barra told reporters during a meeting at the company’s headquarters in Detroit’s towering Renaissance Center. “Obviously it’s important to operate profitably everywhere we operate,” she said. (more…)

GM Europe Sales Down in Second Quarter

Decline outpaces industry despite a good Opel showing.

by on Jul.09, 2009

Gm Europe

Current production volumes are not high enough to return General Motors Europe to profitability.

GM sales in Europe continued their decline during the second quarter, even though car scrappage programs provided a strong boost to the market. Overall GM sales were 471,823 vehicles, which equaled a share of 9.2% of the market. GM sales were down 20% in the region, compared to a decline of 18% the industry. This share is consistent with GM’s year-to-date trend, but the current volumes are not high enough to make GM Europe profitable.

“While it will probably take some years for the industry to return to 2007 levels, as we are facing an unprecedented set of economic challenges due to the global economic crisis, we are working intensively with our retail network to fight for every sale and to successfully manage the business during this challenging period,” said Brent Dewar, GM Europe vice president, sales, marketing and aftersales. GM  had previously estimated five years for a European recovery.

Final numbers from the European Automobile Manufactures Association will not be available until next week. But it appears that GM’s marketshare is now the same as Ford’s in Europe — a prospect it soon faces in the U.S. since it is phasing out four brands that comprise more than 4% of its 20% market share here, which will bring it close to Ford’s share.

VW remains the clear market share leader in Europe at about 12%, followed by Ford and GM, then Peugeot and Renault both at 6.9%, and finally Fiat at 7.5%.

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The latest setback comes as GM is in final negotiations to sell its loss-making Adam Opel GmbH subsidiary, which is key to it future vehicle development plans. One sticking point appears to be GM’s insistence that it have the right to buy back controlling interest in the company that goes back to the 19th century.

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