GM Continues to Lose Market Share in Europe

According to the ACEA, registration of all brands in the European Union rose 4.7% in the final month of the year to 951,329.

The market leader, Volkswagen, lost a tiny amount of share from 24.8% in December last year to 24.7% last month. It registered 235,067 cars. In third place, PSA Group, which owns Peugeot, registered 100,134, as its market share dipped to 10.5% from 10.7% in December a year ago.

Third place Renault also lost a negligible share, falling from 10.7% to 10.5%, registering 101,292 in December.

Ford Motor Co. (NYSE: F) posted modest results, which allowed it to maintain its 6.9% share from December of last year to last month. It registered 65,211 cars.

GM’s market share continued to fall, as it has for many months. Last month it was 7.1%, down from 7.8% a year ago. The division goes under the name of Opel and it registered 67,212 vehicles last month.

Luxury maker BMW actually out-registered GM’s division. Its market share rose from 6.5% in December 2013 to 7.3% last month as its registered 69,535 cars. Its lead on rival luxury manufacturer Daimler, which sells Mercedes, was big, as the other German company had an increase in market share from 5.0% to 5.8%. Daimler registered 55,172 cars last month.

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Regarding GM, Reuters reported on October 1:

General Motors Co on Wednesday said that in 2016 it would ring up its first profits in Europe in more than a decade and hit targeted North American operating margins.

Also:

GM’s target for North American operating margin in 2016 is 10 percent. Chief Executive Officer Mary Barra said the margin target for Europe took into account steps the company had taken to minimize the impact of the downturn in the Russian market.

GM’s forecast of a profit in Europe next year will be hard to hit, unless it can slash costs to the bone. By doing so, it will severely cripple its chance to ever be a factor in EU car sales again.

GM was recently named one of 24/7 Wall St.’s America’s Most Hated Companies.