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Opel Vows to Turn a Profit in 2016
CEO Karl-Thomas Neumann says Opel AG will return to profit next year in spite of the slumping Russian car market, Reuters reports.
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CEO Karl-Thomas Neumann says Opel AG will return to profit next year in spite of the slumping Russian car market, Reuters reports.
Neumann tells attendees at a conference in Stuttgart that sales by the General Motors Co. subsidiary are ahead of plan in such markets as Germany, Poland, Portugal and Spain.
GM is pouring about €4 billion into Opel to introduce 27 new or updated models by 2018. The brand hopes to increase its European market share to 8% by 2022 compared with 5.7% last year.
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