M The Handelsblatt writes the operational The minus is well over a billion euros. Since 1999, Opel losses have totaled over 20 billion euros.
Opel has only been part of the French PSA group since August 2017, so the measures introduced by the French are not yet having any effect on the 2017 balance sheet. PSA declines to comment on the renewed loss. The PSA balance sheet press conference is scheduled for March 1st, but PSA is not going to publish a year for Opel there either.
Neumann and Müller wanted to turn the tide in 2017
2017 would have ended Opel view with its new models should actually be a good year. The previous management under the then Chairman of the Board of Management Karl Thomas Neumann and Head of Marketing Tina Müller wanted to turn things around in 2017. Neumann had already promised for 2016 that Opel would return to profitability. However, Opel lost around 250 million US dollars and referred to Brexit as an excuse.
Despite a growing European market (plus 3.4 percent), Opel was only able to sell around 940,000 vehicles across Europe in 2017, compared to that In the previous year that means a minus of around five percent. The company suffers from its bad image. Drivers prefer to go for a brand with a better reputation, writes the Handelsblatt.
Opel reacts to the Handelsblatt report with a brief statement: “This is typical 'fake news'. Such a number is not available within Opel /Vauxhall. ”