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Opel Redesigns Little Corsa, As Drive For Profits Cranks Up

“Corsa is the second most popular car in Europe after 32 years in the market and during that time, over 12 million have been sold, or an average of 370,000 cars each year”

GM Europe’s Opel-Vauxhall has redesigned its Corsa small car using design cues from the highly successful Adam city car.

The new Corsa will be formally launched at the Paris Car Show in October and will go on sale before the end of 2014.

The new Corsa is part of an ambitious plan to return the serial loss maker Opel-Vauxhall back into the black. Next year the company will introduce the Astra medium-sized family car, which will compete with the market leading Volkswagen Golf.

Earlier this week, GM Europe president Karl-Thomas Neumann reiterated the DRIVE!2022 plan at a London media briefing. This includes breaking even by 2016, raising European market share to eight per cent by 2022 from 5.8 per cent in 2013, and raising profits on an EBIT (earnings before interest and tax) basis to five per cent by 2022.

Opel-Vauxhall lost $844 million in 2013, down from $1.94 billion in 2012, and has accumulated red ink totaling around $18 billion since 1999.

Last year Opel-Vauxhall announced a $5.25 billion investment plan through 2016 to develop 23 vehicles and 13 engines. This has now been expanded to a total of 27 new models and 17 engines between 2014 through 2018.

Opel is the mainly German-based company which sells across Europe except Britain, which Vauxhall serves with identical cars.

Buyers of the new fourth-generation Corsa will be able to choose engines like a 1.0 liter- three-cylinder gasoline engine or 1.3 liter diesel, among others. Two new six-speed gearboxes – a manual and an automatic – are available.

Opel-Vauxhall said the Corsa is the second most popular nameplate in Europe after 32 years in the market and during that time, over 12 million have been sold, or an average of 370,000 cars each year.

The Corsa will offer some gizmos usually associated with premium sector cars, like Hill Start Assist, automatic parking and tire pressure monitoring. New safety systems include Side Blindspot Alert, High Beam Assist, Lane Departure Warning, bi-xenon lights and a rear-view camera.

More details about New Corsa, including pricing, will be revealed later in the year.

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