Economy

“Competitors are catching up”: Opel boss Lohscheller warns of strong rivals

Opel boss Michael Lohscheller.

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Opel boss Michael Lohscheller wrote a circular to the workforce of the Rüsselsheim car manufacturer. The reason for this is the financial results published today by Groupe PSA for 2020, which also include the annual figures for Opel. The new parent company of Fiat Chrysler Automobiles NV (FCA) and Peugeot SA (PSA) – and thus of Opel – has been the Stellantis NV group based in Amsterdam, the Netherlands, since mid-January of this year.

NewsABC.net documents the three-page letter from Lohscheller in which Opel’s captain classifies key business figures, among other things. The Groupe PSA had reported a “proportionate group net result of 2.2 billion euros” for 2020. At FCA it says: “Net result at breakeven level with adjusted net result of 1.9 billion euros”. Commenting on a variety of other financial data, Stellantis CEO Carlos Tavares said, “These numbers demonstrate the financial health of Stellantis, which brings together two strong and healthy companies. Stellantis has got off to a flying start and is fully concentrating on achieving the promised synergies ”.

In this context, Michael Lohscheller let his teams know in a circular: “The result shows that our parent company was born on a strong foundation despite the pandemic. Opel also successfully defied the crisis. We have remained profitable and achieved an operating profit of 527 million euros last year ”.

According to the Opel boss, he is pleased “that we can pay you a voluntary success bonus for the second time in a row in recognition of this achievement. It amounts to 500 euros and will be transferred in April ”.

With a view to electrified vehicles with the lightning bolt in the logo as well as Opel models with modern combustion engines, Lohscheller expressly committed to complying with statutory emission requirements: “This is crucial for our future, because CO2 has become THE new currency. It is not just about avoiding EU fines: We also see it as an ethical task to ensure mobility and at the same time resolutely fight climate change ”.

In summary, the Opel driver emphasized: “Our course is right. We did a lot of our homework. At the same time, however, the manager warned: “But we have not yet reached our goal everywhere and must position ourselves for the future with a view to the transformation of the automotive industry”. As examples of this, Lohscheller cited a downsizing and adjustments to the company pension scheme.

The top manager’s urgent warning: “We must not let up in our competitiveness or even fall behind, because we see that competitors are catching up”. Lohscheller concludes his message to the Opel teams with the combative prognosis: “2021 will be a strong year for us!”

And – owing to the virus – with the well-meaning appeal: “Stay healthy!”.

You can find the wording of the letter here:

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