FRANKFURT, June 24 The new version of Opel's best-selling Corsa car will arrive in European showrooms at the end of 2014, it said on Tuesday, as General Motors seeks to return its second-largest brand to profitability.
Opel and its sister brand Vauxhall have made losses for years, hampered by management shake-ups and an ageing model range which have led market share in Europe to drop to around 7 percent today from more than 10 percent a decade ago.
Subcompact cars are the most popular segment in Europe, but GM has been producing the current version of the Corsa since 2006, resulting in a sales drop as rivals have cut in with newer products.
Corsa sales in Europe fell more than 10 percent in 2012, and 7.7 percent in 2013 as rivals including Ford, Renault and Citroen refreshed their model range.
By 2022, Opel and Vauxhall wants to become the number two in the European passenger car market boosted by a product and marketing push.
The next generation Corsa hopes to gain market share through an upgraded infotainment and navigation system which offers wireless internet access, as well as a range of economical engines. (Reporting by Edward Taylor; Editing by Greg Mahlich)