One year after presenting the PACE! strategic plan, Vauxhall/Opel CEO Michael Lohscheller said: “PACE! works! Vauxhall/Opel (
www.groupe-psa.com will be sustainably profitable, electric and global.
This is something every employee can be proud of. We have managed to re-organise ourselves in the last 12 months and change our mind-set.
We posted a profit of 502 million euros in the first six months of 2018, and we are continuing to work hard on our success.”
Mr Lohscheller said one important lever for the company’s success is its improved competitiveness in all areas of the company; it managed to cut its fixed costs by 28% in the first half of the year.
“Extensive agreements on the improvement of competitiveness were signed with the social partners at all sites, enabling a significant improvement in the ratio between labour costs and revenue.
"The company also delivered on its promise to streamline its senior management; these positions were cut by a quarter over the course of the last year.
Vauxhall/Opel clearly stands by its goal of avoiding plant closures; investments are being made in the various sites, and multiple plants have already received new product allocations.”
He also said that Vauxhall is increasingly benefitting from its integration into Groupe PSA, with vehicles based on the shared ‘Multi Energy Platforms’ being up to 50% more cost-efficient to develop, while at the same time improving quality.
“Extensive synergies are also being achieved in numerous other areas of the company, such as by the creation of integrated sales structures in many European countries, as well as global functions.”
He also said that having access to advanced Groupe PSA platforms and propulsion technologies is the foundation for the extensive electrification of the Vauxhall portfolio.
“Four vehicles will be electrified in 2020, including the new Corsa in a pure battery-electric variant, along with the Grandland X PHEV — Vauxhall’s first plug-in hybrid. These vehicles are integral components of Vauxhall’s product offensive.”