GM’s Opel unit has given up the battle for high market share in Germany and no longer seeks to repeat the record levels it enjoyed in the 1990s, according to a report in Handelsblatt.
The newspaper report says that people close to Opel said that the company’s long-term plans up until 2006 only mention market share targets of around 12%. Five years ago, it had market share of more than 18%.
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Opel’s supervisory board will meet on Monday to discuss the group’s long-term strategy.
Handelsblatt’s sources claim that a ‘high level of realism’ has been put into estimating future market developments.
In Geneva earlier this month, GM and Opel executives set great store on plans to revamp product in the medium term – an implicit recognition that its lacklustre range in some segments has been a factor behind falling market share.
Some 10 billion euros will be invested in 10 new Opels (aka Vauxhalls, Holdens and South American Chevrolets) in the next five years. First of the new cars is the all-new Vectra later this year.
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By GlobalDataAs part of a policy of rationalising its distribution network, Opel recently sacked 900 German dealers.
