Opel Hopes to Surpass PSA in Europe

General Motors' Opel unit is striving to outsell PSA Peugeot Citroen in Europe to become the region's second-largest brand after Volkswagen by 2022.

Last year PSA and Opel sold 1.34 million and 825,000 vehicles, respectively, according to trade group ACEA.

CEO Karl-Thomas Neumann concedes that Opel will continue to struggle this year as it absorbs the cost of closing its factory in Bochum, Germany. But he points out that GM has pledged to spend €4 billion by 2016 to develop 23 new or redesigned models and 13 new engines by 2016.

"Why aim only for a turnaround by 2016 if we can say we want to be number two in Europe by 2022," he declares at the Geneva auto show.