Has Europe Finally Bottomed out for Automakers?
In the video below, analyst Brendan Byrnes discusses Europe and how it has been affecting the major U.S. automakers. It's been a disaster for both Ford and GM over the past few years, but it looks like there might be a hint of light at the end of the tunnel.
Ford's Europe president has said that the industry may have hit bottom, which would be great news for both automakers. In Ford's case, the company lost $1.75 billion in Europe in 2012. Think about it this way: If the company would have broken even, that's a 30% increase on its $5.6 billion in earnings right there.
Of course, Ford isn't projecting to break even in Europe until mid-decade, but it shows how important it is for the company. We chat more about how Europe affects both of these automakers in the video below.
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The article Has Europe Finally Bottomed out for Automakers? originally appeared on Fool.com.Brendan Byrnes owns shares of Ford and General Motors. The Motley Fool recommends Ford and General Motors. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.