Opel is Aiming to Become Europe’s No #2 Brand by 2022 – Says the CEO

The General Motors’ Opel unit is planning and aiming to overtake the Peugeot-Citroen and become the second biggest carmaker in the Europe by 2022. The claim is made is by this famous German automaker’s CEO as reported by Reuters.

Photo 1: OPEL

"We are aiming for a turnaround by the year 2016 if we could further go ahead and say that we will be the No. 2 in Europe by the year 2022," was the words of Karl-Thomas Neumann, who was at the Geneva Auto Show, which was happening the last week. He added that 2014 might be a pretty difficult year for the company, which is overburdened by the additional cost of closing down the factory at Bochum in Germany.

The market share of Opel in Europe was 7.4 percent only in February of this year, Neumann said, however, he said that “it is a significant gain from its previous market share of 7% in the year 2013. Opel is expecting a fair growth in Europe by enhancing their performance in the passenger car market here.

Photo 2: Opel is Aiming to Become Europe’s No #2 Brand by 2022 – Says the CEO

The Opel models on display at the Geneva Motor Show was, however gained pretty fine critical acclaim as well as the attention of the spectators, which had given the company much confidence in enhancing their performance in the passenger car market in the coming years. After the previous close down of the Bochum factory, this is a critical move Opel is going to make in getting back the popularity in this sector by offering the best to the buyers.

Neuman said to the reporters that "We are planning to grow faster than the market grows in order to gain a fair market share.”

GM had earlier announced that it has got plans to invest an additional 4 billion Euro (which is about 5.5 billion dollars) in order to fund for the 23 new models as well as 13 new performance engines by year 2016 in order to overhaul the aging product range of Opel.