Even if Europe's carmakers were better able to compete on a global stage, their home market is suffering. Car sales across Europe fell for the fifth year in a row in 2012, pulling back another 7.8 percent, according to data from consultancy PwC. Analysts say sales probably won't climb back to the 2007 peak before at least 2020.One reason for the poor financial performance is idle factory floors. A report by analysts Alix Partners found that at the height of production in 2007, the industry in Europe was only using 83 percent of its capacity. It's expected to be around 75 percent for the next couple of years. One way carmakers in the U.S. have turned around their operations is by dealing with their own overcapacity problem, shutting 18 factories in four years; Europe has yet to bite the bullet.
European Carmakers To Get Serious At Geneva Show
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