Opel

Opel is one of the largest European car manufacturers and was founded by Adam Opel in Rüsselsheim, Germany, in 1862. The company began production of cars in 1899. Opel has been part of the [PSA Groupe]] since August 2017. Together with its British subsidiary in 2018, the company is represented in more than 60 countries around the world selling more than a million cars.

Opel implements its car electrification strategy to succeed and meet future mobility needs of customers. By 2024, all European passenger car models will offer an electric option. This strategy is part of PACE's plan, with which Opel aims to become a sustainably profitable, global and electric brand.

History

2021: Appointment of Uwe Hochgeshurtz as CEO

On July 13, 2021, it became known that Uwe Hochgeshurtz, who holds the post of General Director of the regional division of Renault (Germany, Austria and Switzerland), was appointed General Director of the Opel brand. More details here.

2019

Opel returns to Russia

Since December 2019, the first models of the German automaker from Rüsselsheim have entered the car dealerships of official dealers in large cities of Russia: Moscow, St. Petersburg, Nizhny Novgorod, Rostov-on-Don, Ryazan and Stavropol. The Grandland X crossover, manufactured at the Eisenach plant and the Zafira Life passenger minibus, production of which is established in Kaluga, are available for ordering .

Opel Vivaro cargo vans for the Russian market will go on sale in the first half of 2020.

"A significant increase in profits due to the development of business in foreign markets is one of the key elements of our company's plan called PACE!. We have achieved great success in this area thanks to our return to Russia, "said Opel CEO Michael Loscheller. "We will gradually increase our presence in the country in the coming years, including by expanding the range of products offered. As in any market, our top priority is to increase profits along with a high level of customer satisfaction. "

"The Opel brand is returning to Russia as part of Groupe PSA, and this is a grand event. The Kaluga plant is an important asset that gives us the opportunity to produce Opel cars in Russia today. We are pleased to offer Russian motorists a competitive and high-quality product, which is based on the best developments in German engineering, "said Paul Wilcox, CEO of Groupe PSA, Eurasia.

Initially, Opel partners will be 11 dealers in 8 Russian cities, including Moscow, St. Petersburg, Nizhnevartovsk, Rostov-on-Don, Nizhny Novgorod, Ryazan, Tyumen and Stavropol. This number will double next year and will grow further. Moscow is the leader in the number of Opel dealers, followed by St. Petersburg with two centers and one dealer in other cities of Russia.

Readiness to return to the Russian market

On February 26, 2019, Chairman of the Management Board Carlos Tavares, during the presentation of the financial results of the PSA Group for the fiscal year 2018, confirmed the group's desire to conquer new markets and stated that the Opel brand was ready to enter the Russian market.

The global expansion of export markets is part of the PACE! strategic plan for the development of the Opel brand, which is expected to help the company become sustainably profitable. The decision to return to the Russian market is part of this strategy aimed at developing the brand both in Europe and in world markets.

According to the PSA group, Opel's top priority in Russia will be profitable growth and a high level of customer satisfaction. Dragan Nenadovich, who will take the post of regional brand manager of Opel and will work in the Moscow office of the company, will be responsible for expanding business in the Eurasia region.

The entry of the Opel brand into the Russian market will allow PSA Group to strengthen its presence in the Eurasian region, expand the offer for existing customers and attract new ones. Taking into account the launch of the Opel brand in Ukraine in 2018, we expect to triple the sales of PSA brands in this region by 2021. Building a highly profitable business will help us achieve this, "commented Yannick Bézard, executive vice president of the PSA Group and operations director of the Eurasia region.

2017

Michael Loscheller takes over as CEO of Opel

In June 2017, the head of the German automaker Opel Karl-Thomas Neumann left his post. His place was taken by Michael Loscheller, who previously headed the financial department of the concern.

The former head of Opel will remain a member of the board until the end of the sale of the company to the PSA group.^[1]

General Motors sold Opel for 2.2 billion euros

The American automaker General Motors agreed to sell the brand and Opel division of the French PSA Group, which produces Peugeot and Citroen.

The deal, as announced on the morning of March 6, will amount to 2.2 billion euros (2.33 billion dollars).

PSA, as part of the deal, will also receive the Vauxhall brand and production facilities - under this Opel brand is manufactured and sold in the UK.

The purchase of Opel, AP notes, will allow PSA Group to become the second largest automaker in Europe.

2009: Failed sale of the company to the Sberbank-Magna consortium

GM decided to sell a 55% stake in Opel to the Sberbank-Magna consortium at the height of the economic crisis in September 2009, but two months later the Americans refused the deal. Then GM explained its decision "an improving market situation."

In July 2011, British journalists managed to unearth new details about the failed sale of Opel to a consortium of Canadian auto parts manufacturer Magna International and Russian Sberbank^[2]. According to the publication, the Russian side during the negotiations put forward unacceptable terms of the agreement.

According to The Times, citing WikiLeaks materials at the disposal of the site, the Sberbank-Magna consortium sent General Motors (owner of Opel) 31 an amendment to the agreement, which was negatively perceived by the Americans. In particular, it was allegedly about the further possible sale of Opel to the Russian automaker, which is controlled by the state.

However, the reason for the disruption of the transaction could be not only unacceptable conditions of the Russian side. Sources of The Times in GM said that the corporation in the end did not want to provide Russia with access to its technologies and patents. Also, one of the dispatches of the American embassy says that political considerations intervened in a "completely business transaction." True, American diplomats consider Russian negotiators guilty. Relevant information is contained in dispatches that employees of the US Embassy in Berlin sent to Washington.

In July 2011, Opel CEO Nick Reilly said he was very pleased with the progress of the company's recovery from the crisis.

Notes