The logo of General Motors Technical Center in the manufacturer , June 5, 2014, in Warren, Michigan (Getty / AFP / File / Bill Pugliano)
General Motors (GM) went on the offensive Wednesday in 2016 by providing a return to profit in Europe and higher margins in North America while betting big on China, the world’s largest auto market.
Two days after the pessimism of his rival Ford, the first American automobile group took the floor against displaying aggressive ambitions, particularly in Europe.
GM hopes board in green on the Old Continent in 2016 and set to do this on a reduction of the wing despite difficulties that shook the whole sector in Russia, he announced during the presentation of its strategic plan in Detroit (Michigan, North).
These savings will be achieved through capacity reductions and other costs administrative and marketing ($ 100 million) and the result of restructuring ($ 700 million) in progress.
The American group discontinues its Chevrolet brand in European markets to make room for its two other brands, Opel and Vauxhall.
these cost reductions will add the product launches of new models of urban Opel Corsa and Opel Astra (300 million dollars).
In the end, he hopes to make an operating profit of $ 1.5 billion, against a loss of 800 million last year and 1.9 billion in 2012 GM has lost money the past 16 years in Europe.
The builder is also an attack on its national market, North America. There are plans to increase it to 10% in 2013 against 7.8% operating margins. Ford is expected to range from 8% to 9% over time.
GM put on the new generation of Chevrolet Malibu sedan and Chevrolet Cruze compact and Chevrolet SUV on the Trax. But the manufacturer wants above all reduce its production costs are among the highest in the industry in this region
-. $ 14 billion in China –
The most daring bet on China. GM wants to invest $ 14 billion or $ 2 billion more than previously announced, between 2014 and 2018 The American group wants to open five new sites and launch 60 models (new and restyled) nine 4X4 City (SUV).
GM hopes will increase its market share from 14.6% currently to 16% by 2018, there is still outstripped by Germany’s Volkswagen.
To make up and behind the rival with whom he quarrels instead of two worldwide behind Japanese Toyota, GM gives a central place in its luxury brand Cadillac.
This, as an independent entity, will now based in Manhattan (New York) with his former Audi head. It will be introduced in China, where the appetite for luxury models is great.
Cadillac is breathless with too high inventories and is unable to compete with Audi, Mercedes or Lexus (Toyota).
GM, which has a war chest 39 billion dollars, will redistribute “solid” dividends to its shareholders. He did not specify the amount.
The manufacturer has distributed its first dividend in March (30 cents per share) since leaving bankruptcy in 2009.
A Wall Street After hesitating, the action GM strongly rose 2.69% to 32.80 dollars at 4:50 p.m. GMT. The title had stalled in recent days, investors prancing with impatience.
For nine months, and the arrival of the Chief Mary Barra, the automotive group is mired in scandal of late reminders 2 6 million vehicles for a defect in the ignition switch that caused the death of 23 people.
Ms. Barra has implemented a policy of “zero risk” consisting recall a vehicle at the slightest alarm and reorganized the group. GM has recalled about 30 million vehicles in nine months
The bill is heavy. $ 2.5 billion and costs could rise further, GM has launched a compensation program for victims <. / p>
The group is also being investigated by the United States Department of Justice, Constable of financial markets, the SEC and the Congress of the United States.
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