Stellantis is optimistic about the future of its German subsidiary Opel, as it expects the latter will be able to continue operating as a separate brand, Opel CEO Uwe Hochgeschurtz told the Automobilwoche magazine.
“I’m happy with the brand and with its array of products,” Hochgeschurtz said in an interview with Automobilwoche.
“There is great capacity for development.”
According to Hochgeschurtz, Opel’s loss of market share was mostly a result of inadequate transport capacity to deliver the vehicles to sellers.
“We had the clients, we had the finished cars, but they did not get to where they needed to get,” Hochgeschurtz said.
“Given the lack of truck drivers, there is only limited transport capacity. That’s why we have offered sales people to come and pick up the cars themselves in our depots.”
As of 9:28 GMT on Monday the shares of Stellantis NV (STLAM) were gaining 1.68% (EUR 0.268), while extending the gains from the previous five sessions, to trade at EUR 16.218 in Milan.
The shares of Stellantis NV went down 20.51% in 2022, compared with a 13.31% loss for the benchmark index, FTSE MIB (FTMIB).
In New York, the auto maker’s shares closed 2.07% ($0.35) higher at $17.29 on Friday, with the company’s total market cap now standing at $55.56 billion.
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