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GM Says ‘Nobody’ Profitable in Europe on Car-Price Discounts

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General Motors Co. said Europe’s car industry will remain unprofitable at current vehicle pricing levels, while Volkswagen AG said some competitors are at risk of going out of business without state aid.

Fiat SpA and PSA Peugeot Citroen are producing “very scary numbers” with discounts of as much as 30 percent off gross sale prices, Susan Docherty, who runs European operations for GM’s Chevrolet unit, told reporters today at the Paris Motor Show. “Nobody can make money in Europe when you’ve got incentives at that level.”