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Car giants battle for market share at Geneva show
(Agencies)
Updated: 2009-03-04 11:12

Car companies around the world have announced tens of thousands of job cuts in recent months and governments have sought to cushion the impact of the crisis on the industry, one of the world's biggest employers.

A model stands beside a Ferrari 430 Scuderia during the first media day of the 79th Geneva Car Show at the Palexpo in Geneva March 3, 2009. [Agencies] 

"Overall (sales) volume has collapsed by 30 percent; we have some markets down by 70 percent," Forster said at the Geneva show preview days.

But he emphasised that Opel was succesful in its own right and could return to profit in 2011 if it distances itself from struggling US parent General Motors.

Chrysler Vice Chairman Jim Press reiterated in Geneva that his company had not ruled out Chapter 11 bankruptcy protection unless it receives a US government bailout.

Two of GM and Chrysler's biggest rivals, Toyota and Volkswagen, signalled that their fight was one to increase their share of a declining market in 2009 and to squeeze out rivals.