- cautious margin guidance at investor day
- says it expects to incur $1 bln pre-tax loss in FY14 in South America region
- South America industry volume is expected to be flat at 5.0.5.5 mln units, sees long term South American overal margin of 7-9% by 2020
- expects 'Europe 20' industry volume to grow to 16-17 mln units by 2020
- says it projects Europe 2014 pre-tax loss of $1.2 bln
- says it projects Europe 2015 pre-tax loss of about $250 mln; sees FY15 industry volume in the 14.8-15.3 mln unit range; on a long term basis sees volume growth of 35-45% by 2020; sees operating margin of 3-5% by 2020
--> GM -2,4% DAI -1,24% (US), Nissan -0,86%