Even though the car industry is finally rebounding in the United States where sales figures are forecast to hit 16 million vehicles this year, the situation remains grim in Europe. Indeed, European car sales plummeted to a record low in August – registrations dropped by 4.9 percent in comparison with last year.
Rubbing salt into the wounds of the car industry in Europe, Sanford C. Bernstein and the Economist released figures covering the least successful commercial endeavours undertaken by European car companies from 1997 to 2013. Chief among them is the distinctive Smart Fortwo which has managed to rake up a 3.35 billion euro loss between 1997 and 2006, equating to €4,470 per vehicle.
The Fiat Stilo is in second place with a €2.1 billion loss while the Volkswagen Phaeton rounds off the top three, accumulating losses of €1.99 billion. The rare Bugatti Veyron supercar also makes an appearance in the list. Volkswagen sought to reinvent the Bugatti brand through the Veyron, an endeavour which has lead to a €1.7 billion loss and €4.6 million per vehicle.
This chart shows Europe’s top 10 loss-making cars from 1997 to 2013.
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