GM Europe: fails to break even in 2011, targeting one-billion Euro profit in 2016
Opel introduces New Zafira Tourer and premium minicar; Chevrolet introduces New Malibu
With the objective of breaking even (EBIT before restructuring charges) in GM Europe by 2011, GM has been pressing ahead with its restructuring plan including a 20% reduction of production capacity of its subsidiary in Europe, Opel/Vauxhall. In November 2011, however, the company announced that it would not be able to break even in 2011 due to a slumping economy in Europe. It will further update its lineup and reduce costs in the future, aiming to move into the black earlier.
Opel/Vauxhall says that it would introduce 30 new models and models that will be face lifted by 2014 and will secure a profit of 1 billion Euros, profit margin on sales of 5%, and a marketshare of 8.5% (6.2% in 2010) in Europe in 2016.
Concerning the Chevrolet brand, GM aims to boost the segment-coverage ratio in Europe and to almost double the sales volume in Europe to 1 million in 2016. The company plans to boost the marketshare in Europe from 2.5% in 2010 to 4-5% in the medium run.
|Related Reports:||GM Europe (December 2010), GM in China (1：August 2011)/(2：August 2011)
SAIC Motor (July 2011), GM (March 2011)