Dan Ammann, the General Motors president, commented on the state of the global auto industry, saying that his forecast for next year would emulate the situation from 2014.
That means Ammann expects “more of the same” in 2015 from the US auto market – which has been slowly but constantly rising from the crumbles of the 2008-2009 recession. On the other hand, other important regions would continue to be weak or soft and the carmaker is bracing for the impact on sales and profits.
“It’s been more downsides than upsides this year,” Ammann said in an interview. “I’d say the U.S. has been a little better than we’d planned, but South America has been more challenging and Europe has been a little slower.”
When talking about China, the world’s largest auto market and the biggest by far for the company, Ammann acknowledged that rivalry with other automakers (especially Volkswagen AG) is “intense” and the market has started to rise slower than before. He did mention though these are normal conditions for what has became a very strong market, one that is also on its way to maturity. On the other hand, General Motors has no intention to back out of Europe and South America, but the two regions remain very soft (the first) and a “very difficult place to do business” – the latter.