Even under the new owner PSA makes the car manufacturer Opel loss. With 179 million euros, the half-year minus was indeed lower than expected, the Opel boss still sees a signal that it could not go on like this.
Thursday, 01.03.2018
08:57 clock
Heard since last year Opel to the French PSA Group and has burdened it already in the first few months with a loss of millions. From August to December fell by 179 million euros at Opel / Vauxhall, told PSA. “Even if this loss is lower than expected by many analysts, we should not fool ourselves,” said Opel CEO Michael Lohscheller. The number is a signal that it can not continue as before. “Opel needs to change and we will change,” he announced.
PSA 
In total, the company earned just under four billion euros in operations, which is almost a quarter more than in the previous year. Group CEO Carlos Tavares remained undauntedly confident despite the red numbers at the new subsidiary Opel. “The acquisition of Opel Vauxhall is a great way to add value,” he said. CFO Jean-Baptiste de Chatillon even announced progress at Opel. “The plan for a turnaround brings first concrete results,” he said. He pointed to significant cost reductions, for example in the development of the new Corsa. The PSA Group is sticking to its profit target for Opel. In the year after next, earnings in the current business should amount to two percent of sales. Lastly, there were reports after which the refurbishment of Opel falters,
PSA had Opel and the British sister brand Vauxhall on 1 August 2017 for 1.3 billion euros taken over by the US automaker General Motors, A savings and conversion program should bring the new daughter on course, With the purchase, PSA was able to increase its turnover by one-fifth to 65.2 billion euros. The group is manufacturer of the brands Peugeot and Citroën,
Opel had under the aegis of the previous owner General Motors since 1999 no more annual profit. In 2016, the operating loss was $ 257 million, which is 211 million euros at today’s exchange rate.