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European Firms look to N.A. (9/27/12)

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  1. GM2:08
  2. BMW1:38
  3. Automotive News0:38
  4. Fiat panda3:04
  5. Sergio Marchionne2:54
  6. Texas state3:38
  7. weekly commentary4:07
  8. auto sales1:53
  9. European competitors2:31
  10. auto industry1:06

Thu, 27 Sep 2012|

As Europe ails, a bigger focus on N. America | Ghosn: Slump to persist | Chrysler's tough Texas truck talk

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Automatically Generated Transcript (may not be 100% accurate)

Pending doom and gloom. In the -- almost appeal. Oh Detroit in 2009. Looking west. Even as auto makers gather in Paris hard times in Europe have solve them turning their eyes towards North America. A report. Next. Welcome to the newscast. I'm -- Snyder and for Tom -- back. The other show is in full swing today in Paris. But with the European economy in crisis North America is starting to look like the place to be. We spoke with Automotive News editor Jason Stein who's on the show floor in Paris. I think a lot of good product here by I hated but well -- it economic situation. Maybe overshadowing. Well look the other good news comes great belly -- here. But could Europe's gloom helps sales in North America. What we're -- from absolutely larger global players is gonna focus more energy on the North American market primarily because. The North American auto industry as well casing. The entire economy. Do they want to take advantage of that and -- -- -- going to continue to be slowdowns and and Europe don't ignore the opportunity -- -- Also casting a shadow over Paris. Is a slowdown in China which affects Europe's luxury brands. Billy -- Our growth has slowed the last two quarters. And they're looking into 2013. A little unsure whether that same. Robust. Level of sales -- gonna continue or how long it's gonna last. Reuters says Audi BMW and Mercedes account for three quarters of luxury car sales in China. Several top exacts are making the rounds in Paris and sounding a familiar tune. We don't Nissan's Carlos Gomes said European auto sales are headed for an 8% drop this year and the declines we'll continue next year. But in a Paris TV interview he said he sees quote zero chance of a government led restructuring of the industry akin to the US rescue of GM and Chrysler in 2009. Said gone every company is going to have to deal with its own problems. Done more CEO -- that just seen here with the electric Mercedes SL last AMG. Raised doubts about his company's profit target for Mercedes pointing to a tough sales environment. And a top executive at Volkswagen says some of VW's European competitors are at risk of going out of business without government aid. More optimistic words from VW's US chief. Jonathan Browning telling reporters the auto maker is close to matching an all time record in US vehicle sales. VW group sales are up 31%. Through August. Fiat CEO Sergio Marchionne meanwhile reiterated his call for auto makers across Europe to work together to cut overcapacity. Marchionne has seen here with the Fiat panda also said Fiat has not requested aid from Italy or the European Union. The world Vontae that's the name miles a Roddy has given the SS UV which will be produced in the US by Chrysler. As a concept it was known as the -- -- By the way VW chairman Ferdinand get told reporters VW is still interested in buying Fiat Alfa Romeo unit. Despite Marchionne is repeated insistence that the brand is not for sale. And before we leave you let's hop back across the pond to the Texas state fair and some good old fashioned bragging about what else pick up trucks. Folks. We're not messing around. We meet eye popping bone story earthshaking. -- class. Chrysler's Fred Diaz on the towing capability of the ram 15100. Heavy duty pickup. And not to be outdone Ford showing off its running F 150 king ranch. And that's our time for today join us tomorrow for Edward -- of the weekly commentary we'll see you back here. Them.

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