Η Opel ετοιμάζει 23 νέα μοντέλα και 13 νέους κινητήρες έως το 2016

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GM Europe targets break-even results by mid-decade

Ruesselsheim. General Motors Europe (GME) today outlined its target to achieve break-even EBIT-adjusted results by mid-decade through a focus on growth and cost efficiencies.

“Our objectives are to delight Opel and Vauxhall customers, grow the business and achieve sustainable profitability in Europe,” said Steve Girsky, GM vice chairman, chairman of the Opel Supervisory Board and acting president of GM Europe. “Achieving break-even results will be a significant milestone in GME’s long-term ‘Drive Opel 2022’ plan. This path to profitability targets earning higher revenue from today’s vehicles not just our exciting new products. At the same time, we will significantly reduce our breakeven level from where it is today.”

GM currently estimates GME’s EBIT-adjusted for the 2012 calendar year to be in a range of $(1.5) billion to $(1.8) billion, depending on the level of restructuring activity in the fourth quarter. In addition, GM is targeting full-year 2013 EBIT-adjusted for GME to be slightly better than 2012. Break-even EBIT-adjusted results for GME are targeted by mid-decade.

GME plans to increase its revenue and variable profit significantly by re-focusing its go-to-market strategy, improving the image of the Opel brand, strengthening the quality of market share and entering new markets and segments.

“We have an aggressive, multi-billion dollar product plan that will deliver 23 new models and 13 new engines though 2016,” Girsky said. “Many of Opel/Vauxhall’s near-term launches are in entirely new segments, including the Mokka and ADAM this year, and the Cascada next year.”

In addition, GM and alliance partner PSA have agreed to jointly develop four vehicle programs for the region in order to significantly lower development costs. The alliance partners are also in the process of finalizing a joint purchasing effort that will leverage their combined scale. GM had previously announced it would assign the majority of GME’s logistics needs to PSA’s Gefco subsidiary. GM expects to start seeing measurable savings in 2013.

GME is also intensifying its focus on fixed costs and cash preservation. GME’s fixed costs are expected to be down approximately $300 million in 2012. An additional $500 million is targeted from 2013 through 2015.

This effort also includes a 100,000-unit reduction in company and dealer-owned inventory since February, an additional 20,000 reduction planned by the end of the year, and the elimination of approximately 2,600 positions in 2012. The reduction will be accomplished through voluntary separations, early retirements and natural attrition. About 2,300 separations have already occurred.

Another major cost reduction initiative has been GME’s ongoing drive to align its production capacity with market demand, which will continue to be impacted by the European sovereign debt crisis for at least the next several years.

In 2010, GME closed a major assembly plant in Antwerp, Belgium. In 2015, GM will launch its next-generation Opel Astra in two plants with each operating three production shifts, compared with the three under-utilized plants that build the car today. Additionally, there is no allocation of future product to the Bochum site planned after run-out of the current Opel Zafira – subject to consultation.

Opel will remain one of the largest employers in the German and European automotive industry.

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