Despite facing some of the slowest sales in decades in its home market, Opel remains committed to ending its money-losing ways, primarily by forming alliances and launching new models and technology.
Today, at the start of production for its new Adam minicar, the General Motors Company [NYSE:GM] brand gave some insight into its multibillion-dollar restructuring strategy.
The highlight of the strategy is an aggressive new model offensive that will see some 23 new models and 13 new engines launched by Opel between now and 2016.
The first of these new models include the recently revealed Adam and Cascada convertible
In addition to these new models and engines, Opel is also focused on cutting costs and boosting exports. The company has already outlined some future plant shutdowns and established itself in new markets such as Australia.
Finally, Opel, through its parent GM, is linked with another
struggling European automaker, France’s PSA Peugeot Citroen Group. The two plan to share development costs as well as engine technology and production facilities.
They will also work together on a compact MPV for Opel and crossover derivative for Peugeot, a small MPV for Opel and Citroen and an upgrade of an existing small car platform for the next-generation of small cars from Opel, Peugeot and Citroen.
Despite facing some of the worse economic conditions in its 151-year history, Opel bosses believe the company will break even by 2015. GM’s losses in Europe since 1999 have totaled $17.3 billion.