Freed From The Shackles Of GM, Opel Cuts First Profit In 20 Years

Opel called its 2018 profit "historic" after 20 years of losses under former owner General Motors.

The German brand and its U.K. sibling, Vauxhall, made a profit of 859 million euros ($979,000) in 2018 compared with a $204 million loss for the last five months of 2017 after PSA closed its acquisition of GM's European business on Aug. 1 of that year.

Under its PACE turnaround plan, Opel had forecast a return to profitability by 2020, when it aimed for a 2 percent underlying operating margin by 2020.

MDarringer - 2/27/2019 9:03:28 PM

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They are giddy over a profit of $979,000? LOL holy typo, Batman.