Appearing before Opel's best and brightest in Germany, General Motors CEO Mary Barra proclaimed her company's European brand, though unprofitable, is a vital one for the General.
Last year, GM announced they would invest $5.5 billion through 2016 to fund the development of 23 new models and 13 new engines to aid in the overhaul of Opel's aging lineup, with president Dan Ammann — responsible for global regions under Barra — being nominated as supervisory board chairman at Opel. The automaker is also holding firm on plans to build an all-new vehicle for Opel's main factory in Germany, all in an effort to help the brand return to profitability by the middle of the 2010s.
In turn, GM recently withdrew Chevrolet from Europe to give Opel more breathing room, as well as planning to shutter Opel's plan in Bochum, Germany by the end of 2014. Meanwhile, the Ruesselsheim will be assigned a new model sometime down the line to go with the Insignia and Zafira Tourer.
European sales of Opel and Vauxhall fell 1.5 percent in 2013 to 825,000 units, while market share held at 6.7 percent. The duo are the third-largest brand behind Volkswagen and Ford.
from The Truth About Cars http://ift.tt/Jh8LjA
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