German automobile maker Opel (part of France’s PSA Group) is returning to the Russian market after a four-year absence, the group said in a press release on Tuesday, according to Popular Mechanics Russia.
“The group’s aim is to increase its sales outside Europe by 50% by 2021 and to position its brands in new markets: Peugeot in North America, Citroen in India and Opel in Russia,” the press release said.
According to Executive Vice President Yannick Bezard, PSA will raise its profile in the Eurasian region, extend the offer to existing clients and attract new ones through Opel’s Russian market access.
“The launch of the Opel brand on the Russian market will allow the PSA Group to strengthen its presence in the Eurasian region, expand the offer for existing customers and attract new ones. Taking into account the launch of the Opel brand in Ukraine last year, we expect to triple the sales of PSA brands in this region by 2021. Building a highly profitable business will help us achieve this,” Bezard said.
In 2015, General Motors announced the restructuring of its business in Russia, completely scaling down car production at its two Russian production plants and slashing the range of models that were presented on the Russian market. As part of that restructuring plan, the Opel brand left Russia completely.