European Economic Crisis a Threat to Detroit Three

EuropeanCentralBank

- November 30, 2011

The Euro­pean eco­nom­ic cri­sis is a huge chal­lenge for the Detroit Three and oth­er automak­ers. With Europe nudg­ing back into reces­sion, demand for autos is weak­en­ing, cre­at­ing intense com­pe­ti­tion and lead­ing automak­ers to cut prices and add entic­ing incen­tives. Europe today is look­ing a lot like the U.S. did three years ago, in fact. The poten­tial upside is that these adverse con­di­tions may allow automak­ers to do the sort of restruc­tur­ing they’ve been need­ing to do for years, and the Detroit Three have a leg up there, because they’ve done exact­ly that in the U.S. rel­a­tive­ly recent­ly.





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