greater than that of the French groups or Fiat

Some 41 billion euros of net losses: it is the cumulative total of the results of the 15 major automakers in 2008, including the Japanese, who marked their fiscal year on March 31. Even if the trend was widely anticipated, the shock is less harsh. The ex - "big three" of Detroit, General Motors (GM), Ford and Chrysler, which are more than a shadow of themselves, have accumulated, alone, abyssal loss of EUR 45.6 billion. But builders from other continents, such as PSA Peugeot Citroën, Toyota and Nissan whose numbers were unveiled yesterday are in turn passed into the red on the year. In total, 7 of 15 major manufacturers have finished the loss year. Excluding Porsche, which has won very exceptional profits from financial operations, it is the number one European, Volkswagen, which has identified strong profits in the sector.

In the first quarter of 2009, new groups are passed into the red. Because the now global crisis is far passed by its lowest point, feel most automotive groups or consultants. In the United States, countries where degradation occurred first, following the evolution of the GDP, new vehicles sales could retreating to 9.7 million units this year, according to the Rating Standard & Poor's (S & P) Agency, far from the 16.5 million of 2006. In this case, the volume of the US market would be reduced to the level of the second half of the 1960s, while the country had one-third of people less! Even if activity resumes in the good sense in 2010, it will take time before the market returned to the levels of 2007 (from three to four years, according to the prognoses of GM). With, perhaps, the disappearance of the key builders.

In France, Renault, to its meagre profits, 2008 to the start of the exercise of Nissan, is no illusion on 2009: the global automotive market, which peaked at 68 million vehicles sold in 2007, rose to 64 million last year and will continue its fall up to 55 million units this year, predict its leaders. Which would represent a decrease of 19 over two years unprecedented.

PSA sees, for its part, the only West European market declined by about 20 percent this year, with a first worse than the second half, and hope a stabilization for 2010. On the same region, S & P experts expect to a decline in deliveries of 15.4 in their "base scenario", which could drag 18 "deep recession". Among the European general practitioners, Volkswagen is one who is doing the best so far, with its 4 main brands and its international presence (China, Brazil...) greater than that of the French groups or Fiat.

In the Japan, where major manufacturers are highly dependent on the North American market, the medium-term scenarios diverge. Toyota, hailed from the title of first constructor world, it should now keep some time, is clearly more pessimistic than Nissan or Honda (which draws yet profits through his other trade, the motorcycle). Toyota City Group, which is preparing to change CEO, table for the new fiscal year that opens on a fall in its sales of 14 and a heavy loss of 850 billion yen (6.5 billion), or more than double the predictions of analysts, and the equivalent of 5.2 of its sales forecast. During this time, Nissan who believes that his financial situation is "significantly better than three months ago", expects an operating loss of 100 billion yen, or 1.2 of its sales.