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5:07 pm
Wed October 24, 2012

Ford, GM move to stem losses in Europe

Both Ford and General Motors announced steps this week to reduce their losses in Europe.

The region is experiencing a disabling recession that's expected to last at least through 2015.

Car sales are abysmal in Europe, down more than 30-percent from normal demand.

Ford says it may lose a total of one billion dollars in the region for the entire year.

General Motors' losses might be more than that.

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