For two decades, Opel has made losses. The US parent group General Motors sold the automaker finally, PSA from France. Now it seems to finally go forward again – to get out of the red.
Twenty years of losses and still survive – this is quite remarkable. Opel has done it and can now report a profit for the year.
Opel-Vauxhall have achieved a turnover of 18.3 billion euros, an operating profit of 859 million euros, reported the French owner of PSA on Tuesday. The company subsidiary in Germany achieved a return of 4.7 percent.
Mid-2017 Opel and the British sister, Vauxhall, were acquired by the PSA group. Include PSA brands Peugeot, Citroen and DS.
After the Takeover, a massive austerity program followed, jobs were cut and the work on short-time working reduced. In the first five months under the umbrella of the PSA group, from August to December of 2017, wrote Opel continued to make losses of 179 million euros.
Since the Takeover by PSA was saved at Opel much
PSA with profit increase
In the total group PPE operating profit in 2018 rose, and ultimately also to the first full year, including Opel, to 43 percent to 5.69 billion euros. Revenue climbed 19 percent, to 74,03 billion euros, driven by a high demand for the SUV models, the Peugeot 3008 and the 5008.
The profit margin was 7.7 percent, 1.3 percentage points higher than in the previous year. The financial results show “the ability of our group to be a profitable and recurring to achieve growth,” said PSA boss Carlos Tavares.
Back to Russia
Opel aims to return to the Russian market. The parent company PSA wants to sell in the next few years outside of Europe is significantly more cars. In favour of Opel in Russia, Peugeot will occur in North America and Citroën in India. The French car company said on Tuesday.
Opel aims to return to the Russian market – the Plan of PSA
Opel had withdrawn in 2015 – at that time still under the leadership of the US company General Motors from Russia. PSA chief financial officer Philippe de Rovira said, its international spread was important for the future of Opel. In addition, Opel would have to be even more profitable, Rovira.
No rest in Rüsselsheim
Despite the profit, Opel are also in the future troubled times. Large parts of the development center in Rüsselsheim, will be sold to the engineering services provider Segula. With the hangars, test stands and facilities should go to the summer of 2000, so far, 7000, Opel engineers to the new company.
Opel’s sales figures, so it is missing simply at work. At the headquarters in RUESSELSHEIM, there are unconfirmed plans, the production of General Motors developed models Insignia and Zafira in the current year of 123,000 68,000 cars down. Thus, the production would be almost halved. This would also make the components plant in Kaiserslautern.
In the Thuringian town of Eisenach, the staff trembles to the sales figures of the SUV Grand country. This year will also be mounted in a Hybrid Version of the car.
iw/bea (rtr, dpa)