After huge losses last year, Ford (NYSE:F) announced a sweeping plan to overhaul its troubled European operation -- just as rival General Motors (NYSE:GM) undertook a massive European overhaul of its own.

Both automakers have committed to factory closings and other deep cuts hoping to return to profitability in a few years. But this past week, a key European auto-industry expert said that the cuts made by automakers so far won't be enough. In this video, Fool contributor John Rosevear looks at the dire state of the auto industry in Europe -- and the drastic steps that may be needed to get it back on its feet.