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  • William Maley
    William Maley
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    Opel Plans To Get Closer With GM In Order To Get Back To Profitability

      Opel Has Big Plans To Get Back To Profitability

    Opel CEO Karl-Thomas Neumann told reporters at a briefing that he confident the automaker will return to profit by 2016, and become the number two in the European passenger car market by 2022. A bit ambitious to say in the least. How does Opel plan on doing this? Well the automaker has been working on hard on cutting losses by improving the utilisation of plants, increasing sales revenue, closing one of their plants, and cutting costs on product and structural items.

    "I have a lot of confidence about achieving our interim goal," Neumann said about the profit goal.

    As for becoming the number two automaker in the European marketplace, Opel plans on launching 27 new models and 17 new engines between 2014 and 2018. Opel also plans on getting closer to General Motors by utilizing more technologies from the company and strengthening its relationship with Buick.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

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