After 88 years at General Motors, opel (and by extension Vauxhall), was bought by Groupe PSA — Peugeot, Citroën and DS. A risky gamble by Carlos Tavares, the chairman of the board of PSA, since, since 1999, Opel was in the red, without showing profits.
Now, 12 months after joining the French group, in the presentation of the results for the first half of 2018 of the group, they were announced profits of 502 million euros for the Opel/Vauxhall auto division, with an operating margin of 5.0%, which compares very favorably with the €257 million loss achieved in 2016 last year within GM.
The numbers are promising and meet the goals of the ambitious program "PACE!" , which wants a profitable Opel, with operating margins of 2% in 2020 and 6% in 2026; an Opel that harnesses the full potential of synergies within the group; and an electrified Opel, which includes a 100% electric Corsa until 2020.
Carlos Tavares, Chairman of the Board of Groupe PSASince 2014, the Group has demonstrated its constant ability to improve its profitability, its efficiency, as well as its sales volumes, despite the difficult context. The good results that the Opel Vauxhall teams are starting to generate demonstrate the full potential of the new Opel Vauxhall. The agility and discipline that the teams put in the execution of their activities are our advantages in achieving our goals.
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Groupe PSA is in good health and recommended
The good news for Opel also reflects the good results of the rest of the group, with the first half of 2018 to reveal an increase in operating income of 48.1% , translating into 3017 million euros.
The addition of Opel/Vauxhall has enabled the Groupe PSA to deliver record production numbers as well. Were 2 181 800 units produced , an increase of 38.1% compared to the same period last year, also contributing to the result the group's strong commitment to SUVs and the leadership of the light commercial vehicle market.