Vauxhall parent company makes positive steps
With the help of Vauxhall, General Motors has revealed strong second quarter sales and earnings as it prepares to enter the stock market for the first time.
General Motors, who passed off a number of brands to concentrate on Vauxhall, announced £21.14bn of sales during the second quarter of 2010 and pre-tax earnings of £1.27bn.
This comes as the carmaker is poised to enter the stock market for the first time, a move that could raise as much as £12.8bn.
Vice chairman and chief financial officer Vince Liddell said: “I am pleased with our progress."
“We have delivered a strong product, maintained cost discipline and progressed strategic initiatives such as restructuring in Europe."
This European restructure includes Vauxhall’s Ellesmere Port plant, Cheshire, well known for being the home of the Astra. The new Astra hatchback is currently manufactured here and the Sports Tourer version will follow suit later this year.
The Merseyside plant has too enjoyed success recently, posting a 52.56 per cent rise in production in the first half of 2010.
The Vauxhall Astra hatchback is available now from £13,995.