After almost 20 years of losses, GM’s former European division is profitable one year after being sold to the parent company of Peugeot/Citroën. There are obviously many reasons, but some that stood out to me:
– an agreement with labor to trim salary costs by reducing the standard workweek to 35 hours from 40.
– assembly output reduced in Rüsselsheim to 42 vehicles per hour instead of 55 to “focus on cars customers actually want to buy.”
– On the Corsa model which starts at about $14,000, there are 10 possible infotainment systems, down from 57 (!) and there are now 9 windshield / wiper options, down from 16.
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