The French group PSA, which bought Opel last year, reported a profit from the activities of the German automaker in the first half of 2018.
The last time Opel made a full year profit was in 1999, when the company was still owned by General Motors. In the first six months of 2018, Opel reported a profit of 502 million euros. It is noteworthy that in the second half of 2017, Opel brought 179 million euros in losses.
The total profit of the PSA group in the same period increased to 1.481 billion euros (+18%), while revenue increased immediately by 40% and reached 38.6 billion euros.
However, growth was achieved due to serious savings. PSA management has already announced the reduction of 3,700 workers at Opel factories and is now looking for a buyer for the automaker's research and development center, which employs 4,000 people.
Opel's new owners bring the company back to profit after almost 20 years of losses
