Four European car makers to lose $6.6 bln: Moody's

LONDON (MarketWatch)
Four of Europe's mass-market car makers are poised to make combined losses of 5 billion euros ($6.6 billion) this year as European demand sinks to its lowest level in 20 years, Moody's Investors Service Inc. said in a report
Fiat SpA , PSA Peugeot-Citroen SA , Ford Motor Co. and General Motors Co. are struggling not only with a tough price war but also too much spare capacity, the debt ratings firm said in its outlook
"We do not see any indication of a sustainable, upward trend in demand from 2014 onwards," Moody's analyst Frank Frey said in a conference call, according to The Wall Street Journal
General Motors's core European brand is Opel, which goes by Vauxhall in the U.K