General Motors note the “Brexit” in their accounts of 2016

general-motors-brexit-cuentas-2016-20162a long time Ago that Europe is a continent in which General Motors has not managed to make money. The brands Opel and Vauxhall have been the most active insurance, while the other brands have had a poor performance. Cadillac sells very little, Chevrolet has been withdrawn in little more than 10 years, Saab ended up in the irrelevance and the rest of the brands were sold to the drip or by importers.

During last year there were 1.2 million sales in Europe (the best from the year 2012)

After a major restructuring, the position of Opel has become a little stronger, and no longer has a competitor at home -even if it is low volume – as was Chevrolet. In the first half of the year, Opel and Vauxhall have sold 632.550 units, that is to say, a 6.7% more than in the first half of 2015.

had he continued that path, they could have matched or exceeded the results of trading of 2015, but it came to the vote of the “Brexit”, and things have changed. The pound sterling has lost trading up to levels of 80 years against the dollar, and the british market has begun to catch a cold.

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so let’s recap. In may they registered in that country 203.585 units, 2.5% more than in may of 2015, but in June we talk about freezing or slowdown. With 255.766 units, has retreated by 0.8% compared to June of 2015. The british market carried on growing steadily for years, and seemed to crisis.

Karl Thomas Neumann, CEO of Opel, what has reflected in your summary of the first half of the year on Twitter. It turns out that the Uk is the largest market of General Motors in Europe, not Germany. In the british market Vauxhall is the second best-selling brand after Ford. The sales are a problem, the fall of the pound is another.

General Motors has two production facilities in the United Kingdom, a plant in Ellesmere Port dedicated to passenger cars, and another in Luton for light commercial vehicles. If the pound loses value, it means that importing components from continental Europe is more expensive, as the motors. All of this means additional costs that were not foreseen.


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Thomas Neumann figure at up to 400 million dollars the negative impact in the second half of 2016, if things continue in the same plan. Contrast that with the $ 137 million that General Motors won in the first half in the region. Having won the “Remain” (to follow in the EU), General Motors could have had the best commercial results from 1999, the last year that gave benefits in this part of the world.

combining the results of the other brands of General Motors, talked of 639.373 sales in Europe between January and June, which is 4.7% more volume than in the previous year. Do not expect major growth for Cadillac and Chevrolet (the only Camaro and Corvette) because they are niche brands and high prices.

And what will make General Motors to compensate the losses in the second half? According to the head of finance, all possibilities are open, and that can result in cuts. In terms of the feasibility of producing in the Uk, there are those that say that GM is the manufacturer is more exposed to the “Brexit” from the big producers.