GM sees 2013 Europe industry auto sales down 4-5 percent

Published October 31, 2012

| Reuters

DETROIT – General Motors Co expects industry auto sales in Europe to fall 4 percent to 5 percent in 2013 from 2012, when sales were the weakest in nearly two decades.

Steve Girsky, GM's Europe chief, said on a conference call on Wednesday that the company is not banking on market share gains of its Opel and Vauxhall brands to financially succeed.

Girsky also said that GM was cash-flow positive in the third quarter in Europe, even though the company expects to lose between $1.5 billion and $1.8 billion in the region this year. GM said it expects to break even in Europe by mid-decade.

GM makes and sells cars through its Opel brand in most of Europe and through the Vauxhall brand in Britain. (Reporting By Ben Klayman; Editing by Gerald E. McCormick)

URL

http://www.foxbusiness.com/news/2012/10/31/gm-sees-2013-europe-industry-auto-sales-down-4-5-percent/