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OPEL/VAUXHALL PROFIT OF $600 MILLION IN THE FIRST HALF OF 1994; COMPANY IS MARKET LEADER WITH 12.5 PERCENT WESTERN EUROPEAN SHARE; WORLD PREMIERE OF NEW TIGRA COUPE AT PARIS MOTOR SHOW

 PARIS, Oct. 4 /PRNewswire/ -- Opel/Vauxhall had a net profit after tax of $600 million in the first six months of 1994, thus maintaining its leadership in profitability among all volume car manufacturers in Europe, according to Louis R. Hughes, president of General Motors International Operations, at the Paris Motor Show. In addition, Adam Opel AG in Germany has returned to solid profitability this year, and is on course in 1994 to register a substantial turnaround financially, following the effects of the recession on its 1993 results. Hughes also unveiled the new Opel Tigra coupe, which is celebrating its official world premiere and start of sales in Paris this week. The company plans to sell 50,000 units of the Tigra in Europe in 1995.
 Opel/Vauxhall sales in the first nine months of 1994 totaled over 1,150,000 units, for a 12.5 percent share of the Western European new car market, again placing the company in the Number One position among all brands. Because of the high demand for the new Omega, Opel is this week also introducing a night shift at its plant in Ruesselsheim, Germany. "In just a few weeks time, we will build the 100,000th unit of the new Omega, only seven months after the start of production, said Hughes. "We also expect to sell about 450,000 units of the Corsa in Western Europe this year, 100,000 more than last year." Louis R. Hughes: "The overall car market in Western Europe is recovering from last year's sharp decline. We are now forecasting new car sales to reach some 11.8 million units this year, an increase of about five percent compared with 1993. If this trend continues into next year, the market could improve to 12.3 million units in 1995."
 -0- 10/4/94
 /CONTACT: Mike Meyerand of GM, 313-556-3817/
 (GM)


CO: General Motors Corporation; Opel/Vauxhall; Adam Opel AG ST: Michigan IN: AUT SU: PDT ERN

SC -- DE002 -- 0783 10/04/94 08:54 EDT
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Publication:PR Newswire
Date:Oct 4, 1994
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