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Fri November 18, 2011
Detroit carmaker CEOs watch Italy, Greece, and worry
The heads of two of Detroit’s car companies say they’re concerned about the debt crisis in Europe.
European consumers are pulling back from buying cars because of fears about the Euro and the economy.
Fiat and Chrysler CEO Sergio Marchionne on Wednesday said he’s hopeful the new leadership in Italy will help turn things around in that country. But he says car sales in Europe could worsen through next year.
At the Detroit Economic Club Thursday, GM CEO Dan Akerson said the crisis could damage more than car sales. But he’s hopeful the U.S. economy has become more resilient.
"Could the United States withstand a recession in Europe?" he asked rhetorically. "I think it could. "
Ford CEO Alan Mulally earlier this month took the most optimistic view, saying he expects some global economic growth next year, despite sovereign debt concerns.