Opel is in the midst of a huge turnaround plan which it hopes will see the brand return to profitability by mid-decade. But Opel CEO, Karl Thomas-Neumann, is aiming much higher than simply being profitable, he hopes the brand will surpass Peugeot to become the second largest automaker in Europe by 2022.
“Why aim only for a turnaround by 2016 if we can go further and say we want to be number two in Europe by 2022,” Neumann told Reuters at the Geneva Motor Show.
Neumann is confident in Opel’s future success, but admitted 2014 won’t be without its difficulties. He believes part of 2014 will be burdened by the cost of closing the company’s Bochum assembly plant, which currently manufactures the Zafira MPV and Astra Classic.
So far, Opel is on track in 2014. Neumann said the brands market share was 7.4 percent in February, up from the seven percent market share it held in February of 2013.
“We want to grow faster than the market, to gain market share,” Neumann said.
General Motors has plans to invest more than $5 billion in Europe in order to launch 23 new models and 13 new engines by 2016.