Blog: Dave LeggettPricing pressures in Europe, too

Dave Leggett | 23 July 2003

Looks like GM is at least moving in the right direction in Europe, with a smaller loss in 2003 at least holding out the hope of GM's European operations reaching profitability in '04. But it's interesting that both Ford and GM are blaming pricing pressures in the European market for their European losses. Will those pricing pressures be getting more intense? For the remainder of this year, I would say that the weakness of demand in Europe makes it likely that they will. For GM Europe next year two critical factors to watch are (1) how the new Astra fares in the market, especially versus the new Golf and (2) the extent of the recovery in the German car market, by far Opel's largest in Europe.


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