By William Maley
Staff Writer - CheersandGears.com
January 11, 2013
At the unveiling of the first production model of the new Opel Adam, GM Europe president Steve Girsky and vice CEO Thomas Sedran went into more detail about the company's multibillion-dollar restructuring plan dubbed Drive! 2022. The plan, which was which was approved six weeks ago by GM's board, would take place in three phases.
- Phase one would see the company “cut the cash flow gap” between expenditure and income
- Phase two will involve the company launching twenty-three new vehicles, thirteen new engines, and technologies to break even in 2016
- Phase three will see the company introduce new commercial vehicles, improve sales in Russia, and increase plant utilization to 90%
Girsky says some of the work has already been done. In 2012, Opel and Vauxhall introduced six new vehicles, sold more than a million vehicles, cut the stock of unsold vehicles, reconfigured two plants, and made the decision to close the Bochum plant in 2016.