Opel aims to reach the 1 billion euro profit mark from 2016
By Andrew, 10 Dec, 2011. 0 Comments
2012 Opel Astra GTC
Opel/Vauxhall, the European unit of General Motors Co., aims to reach the 1 billion euro ($1.33 billion) profit mark from 2016, according to CEO Karl-Friedrich Stracke in an employee newsletter. During a management meeting in Munich, Stracke said that in his vision, “Opel/Vauxhall will make a profit of 1 billion euros from 2016, a return on sales of 5% and have a market share of 8.5% in Europe."
GM has tried different approaches to restructure Opel, which posted $1.6 billion in losses last year. However, no approach has been effective so far. GM is now considering other measures to increase sales and reduce cost.
It’s possible that some plants will be shut down and jobs will be lost. Stracke added that Opel aimed to widen its market share in 2012 and that it will offer 30 new vehicles to the market by 2014. [source: Reuters]
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