Opel-Vauxhall is back in profit for the first time since 1999 after acquisition by PSA. For the first six months of the year, the business has posted a profit of £447m.
Chairman of the Groupe PSA managing board, Carlos Tavares, said: “The Group demonstrates since 2014 its recurring ability to level up global profitability, efficiency and volumes, despite strong headwinds. Opel Vauxhall teams start to deliver good results to build the New Opel Vauxhall and are eager to unleash further potential. Our agility and strong focus on execution remain a strong asset to reach our targets.”
The profits of £447m posted for the first six months of the year are staggering when compared to the £196m loss made in the last six months of 2017.
PSA, which also owns Peugeot, DS and Citroen, reported that revenues were up 40.1% as a whole to £34.4bn in the first half of 2018 when compared to the first six months of last year.
In another piece of positive news for the brand, Vauxhall has also unveiled a brand new retail site in Croydon (pictured above). Go Vauxhall has been designed to serve more customers than its current site nearby.
Stephen Norman, Vauxhall’s managing director, said: “I was delighted to attend the inauguration of Go Vauxhall at its brand new retail site in Croydon. These superb yet compact and hyper-efficient premises are the very latest example of the roll-out of our new network strategy developing our plans to answer the needs of Vauxhall customers well into the next decade.”
The expanded workshop also allows the servicing of larger commercial vehicles.
Tim Pickering, Go Vauxhall’s group operations director, said: “It’s a really exciting time for everyone here. Our new state-of-the-art retail site looks fantastic and I’m sure our customers will agree. Having moved from a site nearby, we have extra parking space both for both customers and members of staff. This means the new site will allow us to cater for a much larger audience.”
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