Vauxhall says its first year under the PSA Group has been a success, with profits up and emission targets met.
The Vauxhall/Opel brand has managed to cut fixed costs by 28 per cent in the first half of 2018 – with the takeover from the French giant also providing access to technology and platforms.
Vauxhall/Opel chief executive officer, Michael Lohscheller, has been impressed with the progress of the Pace! strategy, which has been the basis of this change and also lays the base for future projects.
Lohscheller said: “Pace! works! Vauxhall/Opel will be sustainably profitable, electric and global. This is something every employee can be proud of.
“We have managed to reorganise ourselves in the last twelve months and changed our mind set. We posted a profit of €502 million (£437.2m) in the first six months of 2018 and we are continuing to work hard on our success.”
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Two further points of the Pace! strategy is the introduction of electrification and the distinguishing of the individual brands, with Lohscheller saying: “Vauxhall will stay British, Opel will stay German. We will continue to clearly differentiate ourselves from our French sister brands.”
It is expected that the brands will introduce four electrified vehicles by the end of 2020, including the e-Corsa and Grandland X plug-in hybrid – both of which Lohscheller says will be important tools to push them forward.
