Wednesday, March 29, 2023
Homechart of the dayChart of the Day: GM's European money pit

Chart of the Day: GM’s European money pit

GM says it's on track to break even in Europe by 2015, but it will have lost a lot of money on the way there.

The company posted another quarter of European losses on Thursday and faced tough questions about whether it could turn that business around. Executives say yes, while acknowledging the road there has been difficult.

Just in the last 12 quarters, GM has posted nearly $3 billion in adjusted losses in the region.

"We really got significant traction on the cost side of the business" in Europe, CFO Chuck Stevens said Thursday. "On the market … we grew share for Opel-Vauxhall for the first time in 14 years. We had improved revenue in the second half of the year."


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