Vauxhall/Opel is celebrating its first year under PSA Groupe control, after it posted profits for the first six months of 2018 and is back in the black financially.
The Anglo-German manufacturer was bought by the French conglomerate on August 1 2017 from General Motors, and in that time has gone from being on the brink of administration to posting a considerable profit to start 2018 and an operating margin of five per cent.
Under PACE! Strategy, which looks to improve the brand’s profitability, advancements in electric mobility and global footprint, the brand has succeeded under its new ownership – who also run Peugeot, Citroen and DS.
Michael Lohschellar, Vauxhall/Opel chief executive officer, said: “We are a completely different company than 12 months ago. We have set the course for even more competitiveness and have already aligned many areas for the future.
“We are profiting massively from being part of the successful Groupe PSA. We are very grateful for this – and this is also an obligation.”
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Following the sale to PSA Groupe, Vauxhall/Opel now uses many of the French group’s manufacturing and technology sites to improve its products, such as the Rüsselheim Engineering Centre and the Zaragoza plant in Spain, which will be home to production of the new Corsa coming next year.
Lohschellar added: “At Vauxhall/Opel, the group's top technologies meet engineering excellence. This results in outstanding vehicles with a clear profile and emotional design. We have always stressed that Opel remains German and Vauxhall remains British.
“We have further sharpened our brands in the past twelve months and I am very much looking forward to our next concept car, with which we will present our future brand face.”
