Opel has returned a €859 million profit for 2018, ahead of the schedule laid out by PSA Group in a remarkable turnaround from decades of losses under General Motors.
Not only was the brand profitable overall, Opel saw strong 4.7 per cent margins on its sales. According to reporting from Automotive News, Volkswagen could only manage a 4.1 per cent margin in 2017 – and that's excluding any Dieselgate-related costs.
Behind the turnaround? PSA Group CEO Carlos Tavares swung the axe when he came on board, slashing almost 4000 jobs and shuffling a big chunk of the workforce from Germany to France.
The company has been bold with some of its product decisions, scrapping a near-complete Corsa development to instead build the next-generation car on the PSA Compact Modular Platform (CMP) to avoid paying licensing fees to General Motors.