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.

Fool contributor John Rosevear owns shares of Ford and General Motors. Follow him on Twitter at @jrosevear. The Motley Fool recommends Ford and General Motors and owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.