Filed under: Europe, Marketing/Advertising, Earnings/Financials, Opel, Peugeot
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's supervisory board has approved changes in the company it hopes revitalizes the brand.
The most important element is “massive” investments in new products over a four year period. The division also plans to increase exports and cut materials and development costs. The Opel board said it expects to also see savings from GM’s partnership with Peugeot-Cetroen.
The board’s press release was short on details about how the plan would work or how it would be implemented.
Stephen Girsky, Vice-Chairman, General Motors and Chairman, Opel Supervisory Board, said in the statement, “The plan we approved today paves the way for Opel’s strong future. GM stands behind Opel, and encourages both its management and employee representatives to continue working together to better satisfy customers and return quickly to profitability.”
Read the full (though very short) press release below.Continue reading Opel board approves new turnaround plan
Opel board approves new turnaround plan originally appeared on Autoblog on Sun, 01 Jul 2012 12:03:00 EST. Please see our terms for use of feeds.
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