"We need to regain our traditional customer base," Opel CEO Karl-Friedrich Stracke told reporters at the Automotive News Europe Congress in Monte Carlo. "We moved Opel up too quickly. Going forward there will be adjustments to make our cars more affordable."
"We will make a significant investment in Opel's product portfolio. I noticed with interest that some of our key competitors have announced plans to cut product investment spending," Stracke said, acknowledging the impact of the debt crisis on Europe's automakers.
Still, Stracke says that Opel will introduce 23 new or revised cars over the next four years, including the Mokka small crossover (pictured). Three new engine families with a total of 13 new powertrains will also be on offer. While not all of those powertrains and vehicles will be developed primarily under Opel's watch, GM continues to rely on its German division for a significant amount of its global engineering efforts.
"Product is king and the key to future success" Stracke told Automotive News.
Opel's push upscale is not unlike that undertaken by Chevrolet in North America. With each new product introduction over the last few years, the bowtie brand has successfully cranked up sticker prices. Although Chevrolet's latest products are far costlier to build than their predecessors, the division's premium pricing strategy has also made them more profitable.
