FRANKFURT: Opel will hold on to market share says CEO
Opel chief Nick Reilly says that although the carmaker expects its European sales will drop 9% on the year to 836,000 cars in 2010, he believes it will hold its market share stable at 7%.
Reilly told daily Frankfurter Allgemeine Zeitung that global sales in 2011 are expected to climb to between 1.25m and 1.3m cars, while the European passenger cars market will stagnate.
Opel projects a net loss of EUR1.4bn (US$1.85bn) in 2010, some EUR1bn (US$1.3bn) of which will be spent on restructuring. Next year, the carmaker will be burdened by massive job-cut related compensation, he added.