General Motors’ European unit Adam Opel AG has established Opel Group to assume full responsibility for General Motors’ business in Europe plus Russia (where Chevrolet continues) and Cadillac.
Its management board – much the same as for Adam Opel – is headed by Karl-Thomas Neumann and the unit is also based in Rüsselsheim, just outside Frankfurt.
Go deeper with GlobalData
Opel Group also takes over economic responsibility for all GM brands in Europe allowing, GM said, Adam Opel “to strengthen its financial basis”.
“The operative business of the Adam Opel AG remains unaffected by this reorganisation,” the automaker said.
CEO Neumann said: “We are more than just Opel/Vauxhall. With the Opel Group, we align our organisational and legal entity structure in Europe with the business operations. We streamline our decision making processes and increase our efficiency. In brief: this reorganisation is an important step in implementing our business plan [the so-called DRIVE! 2022] and another sign of confidence of our parent company GM.”
By 2022, the company aims to gain market share of 8% in Europe, increase the profit margin to 5% and further improve product quality as well as customer and employee satisfaction.
Opel management has taken over numerous GM responsibilities in Europe over the past two years. Among these are full responsibility for Russia’s growing market and the planned manufacture of some cars for Buick in the US and Holden in Australia and New Zealand.
