Opel Group New Brand for GM in Europe

Opel VauxhallIn a move to re-brand their European business General Motors is handing over full responsibility to a new entity which will be known as the Opel Group. The Opel Group will join together oversight of the Opel/Vauxhall brands with other GM operations, including their business interests in Russia. The re-branding went into effect as of July 1st. The headquarters of the new entity will be in Rüsselsheim, Germany.

“Today, we are more than just Opel/Vauxhall,” said CEO Karl-Thomas Neumann, of the management board of Opel Group. “With the Opel Group, we align our organizational and legal entity structure in Europe with the business operations. We streamline our decision making processes and increase our efficiency. In brief: this reorganization is an important step in implementing our business plan DRIVE! 2022 and another sign of confidence of our parent company GM.”

GM is striving to equalize profits and losses by 2015. During the past ten years GM has been posting losses, with GM Europe announcing $284 million in losses before interest and taxes during the first quarter of 2014. Thursday is the day second-quarter earnings are to be released. GM said that it is going for 8 percent of European market share by the year 2022 and profits of 5 percent.

Did you like this? Share it:

Sorry, comments are closed for this post.