Ford, GM See Their Losses Ending in Europe in 2-3 Years

Ford Motor Co. predicts it will return to full-year profitability in Europe, where it describes the auto market as "running along the bottom," in 2015.

General Motors Co. says it is "relatively confident" that the European auto market has hit bottom. GM expects its European unit to break even in 2016 assuming sales improve by then.

Each company made its prediction to reports on Tuesday during the Frankfurt auto show.

Ford's sales across Europe in the first half of 2013 were down 10% at 478,600 units. The company lost $810 million (€610 million) during that period.

GM's sales in Europe, including those by its Chevrolet brand, fell 11% to 511,200 units over the same period. The company reported a loss of $285 million (€215 million) for the six-month interval.