Electric Corsa leads Vauxhall/Opel revival plan under PSA

Electric Corsa leads Vauxhall/Opel revival plan under PSA”

PSA aims to keep all current Vauxhall and Opel plants open, including Luton and Ellesmere Port.

Rapid product launches will complete the transition to the PSA architectures by 2024, three years ahead of the previous timetable, Opel said, as it outlined turnaround plans that leave a 1.7 billion euro (£1.5 billion) synergies goal unchanged. This will allow Vauxhall to use engines and gearboxes already used in Peugeot, Citroen and DS products. All models will switch to existing PSA platforms faster than originally expected too.

Despite the faster pace, however, PSA maintained both the 1.7 billion euro synergies goal and its 2026 deadline, with 1.1 billion or roughly two-thirds of that amount due by 2021.

Adopting PSA equipment should also help Opel comply with new EU-wide carbon emissions regulations, an area where it has been seen as lagging.

"Having full access to Groupe PSA technologies, Opel/Vauxhall will become a European CO2 leader", the company said in its statement. Shared platforms, electrification and expanding Vauxhall/Opel's reach is all part of the plan leading to profit by 2020.

From 2024 onwards, all Opel and Vauxhall passenger auto models will be based on joint group "architectures", Opel boss Michael Lohscheller said. All models will offer electric or plug-in hybrid versions by 2024.

By 2024, all new Vauxhalls will sit on just two PSA platforms - CMP for smaller vehicles like the upcoming Corsa, and EMP-2 for its larger vehicles. To return to profitability, Opel plans to reduce its break-even point-the number of cars sold at which it starts making a profit-to 800,000 vehicles. Opel-Vauxhall sold around 1.16 million vehicles a year ago.

LCV growth is also expected under the plan, which could mean good news for Luton.

The PACE! plan has been created to maintain all of the firm's factories and avoid forced redundancies in Europe.

Industry expert Ferdinand Dudenhoeffer, director of Germany's vehicle research centre, estimates that Opel-Vauxhall's reorganisation could see it shed some 6,000 jobs to help it "catch up to PSA in terms of productivity".

Peugeot parent PSA Group said on November 9 that its technology will be used in all Opel-Vauxhall models sooner than initially planned to deliver promised savings from its acquisition of the loss-making German carmaker. (GM) earlier this year.

The sweeping changes looming at Opel carry echoes of the tough-love approach PSA chief Carlos Tavares employed when he took the helm at PSA in 2014, bringing it back from the brink of bankruptcy by slashing staff, freezing salaries and cutting per-unit costs.

Like this


09 November 2017
Tata Motors Q2 profit jumps three-fold to Rs2,483 crore, beats estimates
Net profit for the quarter ended September 30 came in at 24.83 billion rupees versus 8.28 billion rupees a year ago. Revenue rose 11.5 per cent to 6.3 billion pound, while pre-tax profits were up38 per cent to 385 million pounds.

09 November 2017
Anthony Joshua calls out Tyson Fury in foul-mouthed Twitter tirade
But with a slew of challengers insisting Joshua is ducking fights, the Brit has finally snapped. With all due respect I can only speak about fighters who are active.

09 November 2017
Delphi Automotive Plc (DLPH) Holder Arrowgrass Capital Partners Llp Increased Holding
Following the completion of the sale, the director now owns 10,564 shares of the company's stock, valued at $1,090,099.16. It improved, as 31 investors sold DGI shares while 48 reduced holdings. 35 funds opened positions while 79 raised stakes.

09 November 2017
The Simon Property Group Inc. (SPG) Position Increased by BlackRock Fund Advisors
Financial Management Professionals Inc. raised its position in shares of Simon Property Group by 14.2% in the second quarter. The real estate investment trust reported $2.89 EPS for the quarter, beating the Zacks' consensus estimate of $2.88 by $0.01.

09 November 2017
PDC Energy Inc (NASDAQ:PDCE) Institutional Investors Quarterly Sentiment
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, the number of hedge funds holding PDC Energy Inc in their top 10 positions decreased from 2 to 1 for a decrease of 1.

09 November 2017
Egypt's SIsi Says Opposed to Saudi War with Iran, Hezbollah
Egyptian President Abdel-Fattah al-Sisi said Wednesday that he is against any military action against Iran and its Shiite ally Hezbollah in Lebanon.

09 November 2017
Selena Gomez And Justin Bieber Photos Surface After Dinner Date In LA
Let's hope he can manage to keep this snake in his trousers ! For Justin, no one ever came close to comparing to Selena .

09 November 2017
Global Automotive Hydraulic Steering Market Size 2017 : ZF, Showa, Mobis and JTEKT
The quantitative analysis of the Automotive Sensors market is made and also the future evaluation through 2011-2022 are included. It also features past and present market trends to figure out if there are any business opportunities and scope in upcoming era.

09 November 2017
Intl Div Appreciation ETF Vanguard (VIGI): SuperTrend Above Stock Price
The Average Directional Index or ADX is a technical analysis indicator used to describe if a market is trending or not trending. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.

09 November 2017
MOP issue can not be heard in open court, says Supreme Court
But the bench looked unconvinced and said, "You don't know what all steps we have taken and we do not intend to say it here". When Vishwanathan insisted the petition should be kept pending, the CJI retorted: "Please do not lecture here".