Gm doubles profit – opel writes losses

Gm doubles profit - opel writes losses

After a short high in the fruhsommer, the automaker opel is back in the loss zone. The company mother general motors (GM) reported on tuesday a doubling of the quarterly profit at group level – the european subsidiary, however, had an operational loss of $ 142 million (130 million euros) from $ 231 million (212 million euros) a year ago.

Reason was above all the weak british pound according to the local referendum over the exit from the EU. Great britain is the large single market of the GM subsidiary in europe.

Thus, the gain was used up from the previous quarter, so that opel has a loss of $ 11 million (10.1 million euros) together with his british sister brand vauxhall after nine months. After all, this is still the best nine-month result since 16 years. "With the successful start of the year and the result achieved for the first nine months, we have shown that we are on the right track. This course is to be maintained, "explained opel chef karl-thomas neumann.

Despite the red figures in the COURNE SCHOFT, the group mother GM managed to double the quarterly profit compared to the previous year’s figure of $ 1.4 million (€ 2.6bn) to $ 2.8 billion. Sales rose by around ten percent to $ 42.8 billion – according to the company a new best value.

In the third quarter, GM sold 2.4 million vehicles worldwide, which were less than four percent more than in the same period of the previous year. The leading US automaker benefits mainly from the purchase of the north american clientele on pick-up trucks and SUV. In addition, sales in the world-growing car market china last significantly increased significantly.

After a year-long harsh renovation, opel should actually reach the first annual win since 1999 with the british sister brand vauxhall in 2016. According to figures of the european manufacturers association ACEA, opel / vauxhall has almost 776 in the first nine months of the year in europe (EU and EFTA).000 passenger car sold. That was 6.7 percent more than a year earlier and was a bit under the market that reached an increase of 7.1 percent on average.

With an increase of 2.6 percent, the british overall market remained significantly behind the continent. Opel / vauxhall also operates two factories on the british island and so vice versa benefit from probability benefits. The value chip will take place according to company information about 80 percent in the euro area.