General Motors may be able to post a turnaround in Europe, not due to its partnership with PSA/Peugeot Citroen, but due to its product offerings in the region. The US carmaker has already lost over $18 billion in Europe over the past 13 years. That confidence for a turnaround is based on GM’s current program to overhaul and consolidate its global vehicle platforms, according to GM executives and suppliers familiar with the carmaker’s plans.
The program will allow GM to develop and build almost all future Opel vehicles on its own. PSA recently disclosed that the carmakers were scaling back an alliance announced in early 2012, with GM possibly withdrawing from a program to build its next-generation Opel Corsa on a shared PSA platform. GM, however, said that the planned replacements for Opel Meriva and Zafira due in 2017 would remain on jointly developed PSA platforms.
Guggenheim Securities analyst Matthew Stover remarked that PSA-GM alliance was "a head-scratcher," and “made no sense” for the US carmaker. In September, GM executives privately confirmed that a substantially revamped Corsa would be launched in Europe in late 2014.
The Corsa replacement due in late 2018 was supposed to be underpinned by a new PSA-designed platform designated EMP1, sharing it with the next-generation Peugeot 208 and Citroen C3. Now it seems that the Corsa will be underpinned by a version of GM's own small-car platform -- Global Gamma or G2XX -- the supplier sources told Reuters. [source: Reuters]