Blog: Dave LeggettEurope's crowded market

Dave Leggett | 23 September 2003

GM chairman Rick Wagoner believes the European market is too crowded and that fewer makers with bigger share would be better all round. He's always going to come in for stick of course, but it's a bit unfair to point to a profitable high margin niche maker like Porsche (see forums) and therefore conclude that he's talking out of his rear end. The European market, in the volume part of the industry, does look crowded and has done for some time. Capacity moving - downwards - into line with flat demand? Historically, automobile manufacturing capacity is very slow to adjust. The finger of blame is pointed elsewhere. 'Let's just ride out this cyclical slump and then the new models hit.' It gets political. Losses are absorbed or hidden (did someone say Wolfsburg). Look at Fiat Auto now. Hanging on by a thread, but who's going to take the axe to it and make it profitable? Is that your job Rick?


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