Opel, the old GM brand, is back on the PSA

today, 00:00

Author:

Catalina Apostoiu

A year after the abandonment of Opel by General Motors, the brand is again profitable under the new owner, the French company PSA Group, after nearly two decades of losses, according to Bloomberg

PSA Carlos Tavares is reaping the rewards of the efforts to have Opel unions accept dramatic job cuts and cost reductions. Tavares has also reduced development costs. "

" It's the fastest return we've seen in the auto industry for many years, "says Hose Asumendi, an analyst at JP Morgan.