Ford Exec Gives This Warning
A top executive for Ford Motor Co. (NYSE:F) in Germany has warned that overcapacity among major automakers could cause serious problems within the industry, according to reports from the Financial Times Deutschland.
Bernhard Mattes, an executive with Ford, says the glut many automakers are experiencing will lead to an intense and dangerous price war in Europe.
Meanwhile, General Motors Co. (NYSE:GM) plans to halt production of the Opel Astra at its factory in Ruesselheim, Germany, and will produce the next version of the vehicle at factories in the U.K. and Poland, according the German newspaper, Frankfurter Allgemeine Zeitung.
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