2017-03-06-PSA-OPEL.Pdf

Total Page:16

File Type:pdf, Size:1020Kb

2017-03-06-PSA-OPEL.Pdf PSA & Opel / Vauxhall Alliance: Driving Towards A Better Future A Game-Changing Alliance for PSA & Opel / Vauxhall • Leading European OEM: #1 / #2 Positions Across Key Markets • Complementary Brands • Drive Efficiency on a Higher Scale • Stronger Homebase to Address International Growth Opportunities • Step-Change in Innovation Capability 4.3 MM €55 Bn €4.8 Bn +50% Vehicles Auto Revenue(1) Auto EBITDA(2) R&D Spend Notes 1. 2016A metrics 2. 2016E metrics. Defined as recurring operating income + D&A, assuming 40% of Opel / Vauxhall Auto R&D capitalized 2 Opel / Vauxhall Teams to Drive Turnaround with Full PSA Support 3 Alliance Will Enhance Push-to-Pass and Raise Opel / Vauxhall to Industry Benchmark Current Perimeter Growth(1) by 2018 vs 2015 Group Revenue 10% Additional 15%(1) by 2021E Automotive Average (4) (4) Recurring Operating >4.5% over >6% by 2021E(3) 2% by 2020E 6% by 2026E Margin 2016A-18E Operational Free Positive by 2020E Cash Flow(2) Notes 1. At constant (2015) exchange rate 2. Defined as ROI + D&A – restructuring – capex – Capitalized R&D – Change in NWC 3. vs. initial guidance of 6% by 2021 4 4. Subject to full review of IFRS – US GAAP differences Existing PSA – Opel / Vauxhall OEM Partnership Already Delivering Significant Results Proven Cooperation Model Impact of 3 Joint Vehicle Programs from c.€1.1 Bn Savings Already Based on Three Key Pillars 2017E Onwards Generated With Add. €0.3 Bn p.a. Joint Purchasing Organization Crossland X C3 Aircross PSA Share - In € Bn 220k units (2018E)(1) – Alignment of pricing to benchmark on joint procurement BVH1 platform R&D/ Capex, Joint +0.3 p.a. Purchasing base Opel plant Organization (JPO) Launch 2017E Joint Product Development & 1.1 Cross-Manufacturing Grandland X Peugeot 3008 – Three common vehicles Mainly related to JPO 300k units (2018E)(1) and purchasing on 3 (20% of combined volumes) projects – Projects on time/ at cost EMP2 platform PSA plant – Cost efficiency Launch 2017E Strong Cultural and Engineering Fit B-LCV – Joint working groups across both 300k units (2019E)(1) companies EMP2 platform 0 0 2012–17 Savings Additional Savings – Track record in delivering PSA plant @ PSA @ PSA tangible savings Launch 2018E Sources: Company Information, IHS (February 2017) Note 1. Based on IHS 5 The PSA – Opel / Vauxhall Combination Leads to Mass Market Leadership A Transformational Strategic Combination(1)... ...Strengthening PSA’s Position in Europe’s Mass OEM Market European Light Vehicle Sales(2) MM Units, 2016A 22.5% 17.1% 14.4% 7.9% 6.9% 6.6% 5.9% 5.6% Global Sales 3.1 1.2 4.3 3.9 (MM units) 3.0 European 10.7% 6.5% 17.1% 2.5 Market (# 3) (# 7) (# 2) Share(2) 1.4 1.2 1.1 Auto. 1.0 1.0 Revenue 37.1 17.7 54.8 (€ Bn) 0 0 0 0 0 0 0 0 Auto. EBITDA 4.0 0.8(3) 4.8 (€ Bn) % Market Share Source: Company information, IHS Automotive (February 2017) Notes 1. Based on 2016 figures 6 2. Excluding Russia and Turkey 3. Defined as recurring operating income + D&A, assuming 40% of Opel / Vauxhall Auto R&D capitalized Strong Geographic Complementarity Strong Complementarity Leading Positions (#1 / #2) Across European Markets 2016A PSA & Opel / Vauxhall Volumes + #8 #6 11% #2 3.6 #6 #4 17% #2 3.1 #2 #9 31% #1 2.4 #4 #6 14% #2 2.0 #3 #5 22% #1 1.3 #3 #5 21% #1 0.6 Market Size (MM units) PSA Volume Opel / Vauxhall Volume PSA + O / V Market Share Source: IHS Automotive (February 2017) 7 Differentiated Brand Awareness and Image High Level of Spontaneous Brand Awareness… …A Strong Image… …and Low Cannibalization Risk Willingness to Substitute(1) 64% <3% 23% #2 20% 50% <3% 32% #4 30% 46% 8% 40% #4 44% 43% 6% 46% #1 54% 35% 2% 84% #1 74% Opel / Vauxhall Peugeot Citroën Source: Company information, New Car Buyer Survey – Mainstream brands Note 8 1. E.g. less than 3% of customers for a given model of Opel would alternatively buy a Peugeot model Major Improvement in Momentum at Opel / Vauxhall Effective Strategic Action Plan Launched Improving Financial Performance(1) European Sales Volume (‘000) Model and 29 60% +7.7% 1.16 Engine 1.08 Offensive Model launches over 2016A sales with 2016A–2020E <2y launches 2014A 2016A Revenue (€ Bn) European Car of the Year 2016 +8.2% 17.7 16.4 Brand and Product Image 2014A 2016A EBIT (€ Bn)Bn)(2) Market Penetration Footprint Optimization 2014A 2016A (0.3) • Optimization of dealer network • Manufacturing: production (0.9) Improved relocation / Bochum closure Efficiency • Improved sales efficiency (1.8%) through launch of FinCo in 2013 • Discontinued activity in Russia (5.5%) Margin % Sources: Company information, New Car Buyer Survey Notes 1. Based on contributed entity (pro forma derived from GME accounts in US GAAP & adjusted to perimeter of transaction) 9 2. EBIT defined as ROI post non-recurring costs Clear Additional Levers to Drive Performance Towards Benchmark Levels Relative Performance Across Key Metrics 2015A Harbour Rate Efficiency (# Hours / Car) 28.5 28.1 105% 24.4 96% 82% 21.6 Opel / Vauxhall PSA EU Average PSA PSA Benchmark Opel / Vauxhall (2012A) (2015A) Inventories % of Revenue PSA Harbour Rate Evolution 96% 98% 14.2% 11.6% 7.7% 7.7% 79% 2014A 2015A 2016A PSA PSA Benchmark Opel / Vauxhall (2012A) (2016A) (2016A) Sources: Company information, Harbour- Analyse DSI Note 10 1. EU average includes: Kia, BMW, Mercedes, Renault, VW, PSA, Ford, Jaguar, FCA, Opel/ Vauxhall Significantly Enhanced Scale Across Segments, Especially B & C Segment Model Examples Europe Light Vehicle Sales (2) Market Position ‘000 Units, 2016A Significant scale enhancements on most competitive segments A C1 Adam 242 #4 #2 B 208 Corsa 708 #3 #2 C 308 Astra 521 #2 #2 D 508 Insignia 131 #6 #3 B-SUV 2008 Mokka 422 #2 #2 Passenger Passenger Car C-SUV 3008 Grandland X 106 #5 #5 B-MPV C3 Picasso Meriva 89 #7 #2 C-MPV 5008 Zafira 263 #2 #1 EV(1) ION Ampera-E(1) 2.1 Berlingo / Combo Partner 442 #2 #1 Expert/ Vivaro Jumpy LCV Jumper/ PSA Opel / Vauxhall Movano Boxer Sources: IHS Automotive (February 2017) Notes 11 1. Launched in 2016A 2. Excluding Russia and Turkey PSA Platforms and Powertrain Rapidly Rolled Out to Opel / Vauxhall Ramp Up of Joint Platforms to Full Convergence Within 8 Years Complementary Powertrain Offering % Combined Volumes on Common Platforms PSA technologies deployed on Opel / Vauxhall 100% Expected completion of transaction – Small efficient ICE – PHEV 80% – Electric platforms (E-CMP) c. 70% by 2023E 60% Combined Sourcing c. 50% by 2020E 40% Platform convergence will facilitate combined sourcing Crossland X % Sourcing from Europe 20% Grandland X c. 45% vs. 92% Combo 0% 2017E 2019E 2021E 2023E 2025E 2027E Source: IHS Automotive (February 2017) 12 Combination to Generate Annual Synergies of €1.7 Bn and €1.2 Bn Working Capital Release • Scale effects Purchasing c. 30% • Technical best practices leading to optimized purchasing • Combination of purchasing functions and European sourcing • Convergence of platforms and powertrains R&D c. 25% • Design to cost • Full digitalization of product development • Alignment of industry benchmarks Manufacturing c. 20% • Plant modernization and improved efficiency • Alignment with industry benchmarks SG&A c. 10% • Multiple areas of joint savings • Leveraging gains in manufacturing efficiency and common developments Capex c. 15% • Optimization of joint capex c. €1.7 Bn p.a. c. €1.1 Bn p.a. c. €(1.6) Bn Run-Rate Synergies By 2026E Synergies Expected By 2020E (c. 65%) Total Implementation Costs Working Capital • PSA with strong track record c. €1.2 Bn Optimization • Full realization by 2022E 13 Scope for Greater Innovation and Optimised Technology Spend Opportunity to Optimize R&D Budget Re-Direct Investments to “Future Mobility” Technologies R&D Budget € Bn o/w €0.9 Bn outsourced R&D in HCC(1) 1.4 Net gain Connected Car Autonomous Driving 3.3 2.9 1.9 Total Savings / Expected Budget Joint Development Combined 2016A 2016A (Platform / Powertrain) Budget & Reinvestment in New Technologies Shared Mobility Electric / Hybrid Target c. 5% of total revenue Source: Company information Note 14 1. High Cost Countries Broadening Partnership with General Motors in Advanced Technologies and Services • Long-term supply of Fuel Cell Stack system for Fuel Cell future PSA vehicle • PSA and General Motors electrification component Electrification technology cooperation • Shared purchasing and related scale 15 Auto Transaction Consideration for PSA of €1.32 Bn Opel / Vauxhall €1.32 Bn • 7.4% 2016A pro forma Revenue Automotive General • GM retains all pensions obligations excluding German active workers and certain Motors regional plans contributed to PSA - Europe • Total net underfunded status of pensions obligations retained by GM: c. $6.5 Bn Pensions • GM to fully fund plans assumed by PSA on IFRS (c. €3.0 Bn funding) 16 PSA and BNP Paribas To Acquire General Motors’ European Financing Activities Continuation of PSA’s Highly Successful Partnership Model in Consumer / Dealer Financing, Supporting the Development of Automobile Distribution • PSA and BNP Paribas to acquire General Motors Europe financing activities for €0.9 Bn, 0.8x Book Value • 50 / 50 ownership, with BNP Paribas to consolidate the entity • Well capitalised, low risk profile financing activity • Significant room for value creation through the partnership and alignment of Opel Financing Activities with best in class levels (penetration, cost of funding, IT platform…) 17 GM Europe Financing Activities Serve Opel and Vauxhall Across Europe A High Quality Auto Finance Player Pan-European Footprint Critical to Opel / Vauxhall’s Auto Operations Pan-European footprint, present in 11 countries 72% of Earning Long-standing relationship with ~1,800 dealers Assets in Germany and the UK Full spectrum product offering to consumers and dealers, including leasing activities in Germany Robust funding platform leveraging on German deposits (€1.8 Bn) and securitisation capabilities (€4.0 Bn) Earning Assets of €9.6 Bn (2/3 consumer, 1/3 commercial) c.
Recommended publications
  • GIPE-119631-Contents.Pdf
    r----~ I }"T.w'~ • I OHIO . I .LIMA AIOlON • .MAJUON ---=- -=- s P 0 RTATIONr SERVANTS OF INDIA SOCIETY'S UBRARY, rOONA 4 CN X,0;5'~. 7'&)hNI:/.NL, Gf4 AcN II:>('31 Date of release for loan 2 5 F This book should be returned oil ~g"e the date last mentioned below. An overdue char~e of 5 paise will be levied for each day the book is kevt beyond 'his date. f, 8 OCT ,qq 28 OV 1993 -.P. BOOKS BY THE SAME AUTHOR THE IRON MAN IN INDUSTRY Atlantic lJ,fonthly Press, 1921 THE TELEPHONE IDEA Greenberg, Inc., 1926 JOHNSON OF THE MOHAWKS Macmillan Co., 1930 NATIVE STOCK Macmillan Co., 1931 THE PENNS OF PENNSYLVANIA Macmillan Co., 1931 THEY TOLD BARRON 1930, and MORE THEY TOLD BARRON 1931. The Notes of Clarence W. Ba"on, editor of THE WALL STREET JOURNAL. Co-editor with Samuel Taylor Moore. Harper & Brothers. MOUNTAIN MORNING Argus, Albany, 1932 AROUND THE CORNER Sears, 1933 MEDAL BY NORMAN BEL GEDDES. commemorating the twenty-fifth anniversary of General Motors THE TURNING WHEEL THE STORY OF GENERAL MOTORS THROUGH TWENTY-FIVE YEARS 1908-1933 By ARTHUR POUND Drawings by WILLIAM HEYER MCMXXXIV DOUBLEDAY, DORAN & COMPANY, INC. Gard~n City, NlW York PRINTED AT THE Country Lire~, Prus, GARDEN CITY , N ••Y , U. S. A. '19 G31 C:OPYaJGRT. 1914 BY DOUBLEDAY, DOllAR • COMPANY, INC. ALL "'GHTS RESERVED FIR8T EDITIOR Publisher's Note I T IS probable that no invention of such far-reaching im­ portance was ever diffused with such rapidity or so quickly exerted influences that ramified through the national culture, transforming even habits of thought and language." This quotation from the report of the Hoover Research Com­ mittee on Social Trends refers to the motor vehicle.
    [Show full text]
  • Registration Document
    20 REGISTRATION DOCUMENT Including the annual financial report 17 GROUPE PSA - 2017 REGISTRATION DOCUMENT -1 ANALYSIS OF THE BUSINESS AND GROUP OPERATING RESULTS IN 2017 AND OUTLOOK Capital Expenditure in Research & Development 4.4.2. Banque PSA Finance, signature of a framework agreement with the BNP Paribas Group to form a car financing Partnership for Opel Vauxhall vehicles On 6 March 2017, when the Master Agreement was concluded with BNP Paribas Personal Finance, will from an accounting point of view General Motors, the Company simultaneously signed a Framework retain the current European platform and staff of GM Financial. The Agreement with BNP Paribas and BNP Paribas Personal Finance, to Opel Vauxhall finance companies will distribute financial and organise the joint purchase of Opel Vauxhall’s finance companies insurance products over a territory initially including the following and the setting up of a car financing partnership for Opel Vauxhall countries: Germany, United Kingdom, France, Italy, Sweden, Austria, vehicles. Ireland, Netherlands, Belgium, Greece and Switzerland. The The acquisition of Opel Vauxhall’s finance companies will be cooperation may potentially be extended thereafter to other completed through a holding company. This joint venture, owned in countries where Opel Vauxhall has a presence. equal shares and on the same terms by Banque PSA Finance and 4.5. CAPITAL EXPENDITURE IN RESEARCH & DEVELOPMENT Automotive Expertise to deliver useful technologies Innovation, research and development are powerful levers for Every year, Groupe PSA invests in research and development to developing competitive advantages by addressing the major stay ahead, technologically, of environmental and market changes. challenges faced in the automotive industry (environmental, safety, emerging mobility and networking needs, etc.).
    [Show full text]
  • The European Markets and Strategies to Watch for Maximum Opportunity
    THE EUROPEAN MARKETS AND STRATEGIES TO WATCH FOR MAXIMUM OPPORTUNITY BRIAN MADSEN ONLINE AUCTIONS IT SOLUTIONS SMART DATA 1 THE SPEED OF CHANGE IS FASTER THAN EVER 2 THE NEW NORMAL 3 CHANGE OF INCREASE IN INCREASES YOUNG DEMAND AND SUPPLY OWMERSHIP PRIVATE LEASINGCHALLENGESUSED CAR INVENTORY 4 WE FIGHT WITH CHANGES AND AGAINST OTHER NEEDS 5 PRODUCT MIX ONLINE OEM SALES NEW PLAYERS 6 CHANGE OF INCREASE IN INCREASES YOUNG DEMAND AND SUPPLY OWMERSHIPHOW TO CREATEPRIVATE OPPORTUNITIES LEASING USED CAROUT INVENTORY OF CHALLENGES 7 USED CAR USE DIGITAL SOLUTIONS TO MOBILE ADAPT COMMUNICATION LEASING MATCH CARS WITH BUYERS SOLUTIONS TO CUSTOMER NEEDS 8 WE ALL NEED TO BE BETTER ONLINE 9 216 MILLION 16 MILLION 45 MILLION 6 MILLION PASSENGERS CARS NEW CARS SOLD USED CARS SOLD CARS FOR SALE ON THE ROAD PER YEAR PER YEAR ONLINE EVERY DAY 10 43% 47% 33% 4% PUBLISHED ONLINE WITHOUT PRICE CHANGE 2 MIO CARS ARE WITHOUT PHOTO FOR MORE FOR MORE MISSING INFORMATION FOR MORE THAN 90 DAYS THAN 30 DAYS THAN 30 DAYS 11 TIME IS IMPORTANT FOR THE RETAIL SELLER 12 TIME STARTS BEFORE AND IS PART OF REMARKETING 13 PRIVATE LEASE INVENTORY TCO MONTHLY COST DEMAND UC PRICE RV SALES USED CARS 14 REMARKETING WORKFLOW MANAGEMENT 15 38 % 6 % 49 % 24% FOUND A BUYER HIGHER PRICES PAID BY USED CARS SOLD BY NON CARS OFFERED OUTSIDE THE COUNTRY NON FRANCHISE DEALERS FRANCHISE DEALERS AND SOLD UPSTREAM AUTOROLA CASE STUDY 16 RETAIL DRIVEN REMARKETING 17 HOW DO WE FIND THE RIGHT BUYER FOR EACH VEHICLE ? 18 GEO PRICING VALUE REMARKETING CHALLENGES RV TCO MORE CHAIN DATA SALES SMART
    [Show full text]
  • Poreionymic Backronyms
    © 2020 Lege artis. Language yesterday, today, tomorrow Research article LEGE ARTIS Language yesterday, today, tomorrow Vol. V. No 2 2020 POREIONYMIC BACKRONYMS: AMBIT, FORMATION, AND DIVERSITY1 Dmytro Borys* Kyiv National Linguistic University, Kyiv, Ukraine Olena Materynska Taras Shevchenko National University of Kyiv, Kyiv, Ukraine *Corresponding author Bibliographic description: Borys, D. & Materynska, O. (2020). Poreionymic backronyms: Ambit, formation, and diversity. In Lege artis. Language yesterday, today, tomorrow. The journal of University of SS Cyril and Methodius in Trnava. Trnava: University of SS Cyril and Methodius in Trnava, 2020, V (2), December 2020, p. 2-52. ISSN 2453-8035 Abstract: The present paper examines the nature, formation patterns, types, and correlations of poreionymic backronyms, i.e. phrases serving as alternative interpretations of acronyms and non- acronyms designating transport brands, namely cars, both on theoretical and empirical planes. Since backronyms are likely to be confused with other linguistic phenomena, such as acrostics, apronyms, disabbreviations, and recursive acronyms, the differences between these notions are also analysed in the article. Key words: backronym, poreionym (transport brand name), acronym, non-acronym, acrostic, apronym, disabbreviation, recursive acronym, language game. 1. Introduction The postmodernism era is often said to be "marked by a shift from truth to fiction and narrative, by a change from the world of experience to that of language, and by the 1 This publication is also part of a sociolinguistic diversity investigation within Project № 2020.02/0241 (Ecolinguistic Modes of Ukrainian Discursive Space in the European Multicultural Continuum) supported by the National Research Foundation of Ukraine as "Leading and young scientists research support". 2 ISSN 2453-8035 demise of the three great metanarratives of science, religion and politics with their replacement by local language-games" (Lecercle 1990: 76).
    [Show full text]
  • Power Transmission Group Automotive Aftermarket Contents Introduction
    WORK BOOK Power Transmission Group Automotive Aftermarket Contents Introduction Page High mechanical output on demand, completely independent of wind or water power – the spread of the steam engine un- Introduction 3 leashed the industrial revolution in the factories. The individual production machines were driven via steel shafts mounted on Timing belts 4 the ceiling of the building, pulleys and flat drive belts made of Function 5 leather. Design/materials 6 Profiles/handling 9 The first cars and motorcycles also used this power transmis- Maintenance and replacement 10 sion principle. However, the flat belts in this application were Changing the timing belt 12 soon replaced by something better: the V-belt with its trapezoi- Timing chains 13 dal cross-section transmitted the necessary forces with a signifi- Tools 14 cantly lower pretension and became the accepted standard for ancillary component drives. Timing belt drive components 18 Idlers and guide pulleys 19 The multi V-belt, a further development of the V-belt, has been Tensioners 20 taking over automotive applications since the early 1990s. Its Water pumps 22 long ribs enable it to transmit even greater loads. Its flat design allows multiple units to be incorporated and driven at the same V-belts and multi V-belts 26 time. This gives new impetus to the ever more compact design Function, handling 27 of engines. Timing belts have been used for synchronous pow- Design, materials, profiles 28 er transmission to drive the camshaft in automotive engines – V-belts since the 1960s. – multi V-belts – Elastic multi V-belts The next generations of the old transmission belts are now Maintenance and replacement 34 high-tech products.
    [Show full text]
  • General Motors Increases Its Production Throughput
    informs ® Vol. 36, No. 1, January–February 2006, pp. 6–25 doi 10.1287/inte.1050.0181 issn 0092-2102 eissn 1526-551X 06 3601 0006 ©2006 INFORMS General Motors Increases Its Production Throughput Jeffrey M. Alden General Motors Corporation, Mail Code 480-106-359, 30500 Mound Road, Warren, Michigan 48090, [email protected] Lawrence D. Burns General Motors Corporation, Mail Code 480-106-EX2, 30500 Mound Road, Warren, Michigan 48090, [email protected] Theodore Costy General Motors Corporation, Mail Code 480-206-325, 30009 Van Dyke Avenue, Warren, Michigan 48090, [email protected] Richard D. Hutton General Motors Europe, International Technical Development Center, IPC 30-06, D-65423 Rüsselsheim, Germany, [email protected] Craig A. Jackson General Motors Corporation, Mail Code 480-106-359, 30500 Mound Road, Warren, Michigan 48090, [email protected] David S. Kim Department of Industrial and Manufacturing Engineering, Oregon State University, 121 Covell Hall, Corvallis, Oregon 97331, [email protected] Kevin A. Kohls Soar Technology, Inc., 3600 Green Court, Suite 600, Ann Arbor, Michigan 48105, [email protected] Jonathan H. Owen General Motors Corporation, Mail Code 480-106-359, 30500 Mound Road, Warren, Michigan 48090, [email protected] Mark A. Turnquist School of Civil and Environmental Engineering, Cornell University, 309 Hollister Hall, Ithaca, New York 14853, [email protected] David J. Vander Veen General Motors Corporation, Mail Code 480-734-214, 30003 Van Dyke Road, Warren, Michigan 48093, [email protected] In the late 1980s, General Motors Corporation (GM) initiated a long-term project to predict and improve the throughput performance of its production lines to increase productivity throughout its manufacturing oper- ations and provide GM with a strategic competitive advantage.
    [Show full text]
  • Opel Gliwice
    LKA.410.013.03.2017 P/17/016 WYSTĄPIENIE POKONTROLNE I. Dane identyfikacyjne kontroli Numer i tytuł kontroli P/17/016 – Wykorzystanie przez przedsiębiorców środków publicznych na innowacje i prace badawczo-rozwojowe Jednostka Najwyższa Izba Kontroli przeprowadzająca Delegatura w Katowicach kontrolę Kontroler Mariusz Krynke , główny specjalista kontroli pańs twowej , upoważnienie do kontroli nr LKA/178/2017 z dnia 19 czerwca 2017 r. [Dowód: akta kontroli str. 1-2] Jednostka Opel Manufacturing Poland Sp. z o.o. w Gliwicach 1, kontrolowana ul. Adama Opla 1, 44-121 Gliwice 2 Kierownik jednostki Zarząd OMP w składzie: Andrzej Korpak, Jacek Żarnowiecki, Stefan Moisa kontrolowanej i Michał Jankowiak 3 [Dowód: akta kontroli str. 9] II. Ocena kontrolowanej działalności 4 Ocena ogólna Najwyższa Izba Kontroli ocenia pozytywnie działalność kontrolowanej jednostki w zbadanym zakresie. OMP prawidłowo wywiązywała się z zapisów umowy nr POIG.04.05.01-00-004/10- 00 z 1 lutego 2011 r. zawartej z Ministrem Gospodarki, realizując projekt „Uruchomienie produkcji samochodów Astra IV generacji w wersji trzy- i czterodrzwiowej” 5 w ramach poddziałania 4.5.1 Wsparcie inwestycji w sektorze produkcyjnym, działania 4.5 Wsparcie inwestycji o dużym znaczeniu dla gospodarki, osi priorytetowej 4 Inwestycje w innowacyjne przedsięwzięcia, Programu Operacyjnego „Innowacyjna Gospodarka 2007-2013” . Projekt zakończono w terminie realizując cele zakładane we wniosku o dofinansowanie oraz osiągając zakładane wskaźniki produktu i rezultatu w przyjętych wielkościach. Zakres rzeczowy Projektu obejmujący 54 kategorie wydatków nie zmienił się w trakcie jego realizacji, a wszelkie korekty i przesunięcia pomiędzy tymi kategoriami oraz zmiany umowy o dofinansowanie, m.in. w zakresie kwot nakładów, dokonywane były po uzgodnieniach między stronami w drodze aneksowania i nie miały wpływu na realizację celów Projektu.
    [Show full text]
  • NCIC Vehicle Model Codes Sorted by Make
    NCIC Vehicle Model Codes Sorted by Make MakeCode Model Code ACAD Beaumont Series ACAD Canso Series ACAD Invader Series ACUR Integra ACUR Legend ACUR NSX ACUR Vigor ALFA 164 ALFA 2600 Sprint ALFA 2600 Spider ALFA Alfetta GT ALFA Arna ALFA Berlina ALFA Duetto ALFA GTV6 2.5 ALFA Giulia Sprint ALFA Giulia Spider ALFA Giulietta ALFA Giulia ALFA Alfa GT6 ALFA GT Veloce ALFA Milano ALFA Montreal ALFA Spider Series ALFA Zagato AMER Alliance AMER Ambasador AMER AMX AMER Concord AMER Eagle AMER Encore AMER Gremlin AMER Hornet AMER Javelin AMER Marlin AMER Matador AMER Medallion AMER Pacer AMER Rambler American AMER Rambler Classic AMER Rebel AMER Rambler Rogue AMER Spirit AMER Sportabout ASTO DB-5 ASTO DB-6 ASTO Lagonda ASTO Vantage ASTO Volante Page 1 of 22 NCIC Vehicle Model Codes Sorted by Make MakeCode Model Code ASUN GT ASUN SE ASUN Sunfire ASUN Sunrunner AUDI 100 AUDI 100GL AUDI 100LS AUDI 200LS AUDI 4000 AUDI 5000 AUDI 850 AUDI 80 AUDI 90 AUDI S4 AUDI Avant AUDI Cabriolet AUDI 80 LS AUDI Quattro AUDI Super 90 AUDI V-8 AUHE 100 Series AUHE 3000 Series AUHE Sprite AUST 1100 AUST 1800 AUST 850 AUST A99 & 110 AUST A40 AUST A55 AUST Cambridge AUST Cooper "S" AUST Marina AUST Mini Cooper AUST Mini AUST Westminster AVTI Series A AVTI Series B BENT Brooklands BENT Continental Convertible BENT Corniche BENT Eight BENT Mulsanne BENT Turbo R BERO Cabrio BERO Palinuro BERO X19 BMC Princess BMW 2002 Series BMW 1600 Page 2 of 22 NCIC Vehicle Model Codes Sorted by Make MakeCode Model Code BMW 1800 BMW 200 BMW 2000 Series BMW 2500 Series BMW 2.8 BMW 2800
    [Show full text]
  • Download PDF, 64 Pages, 11.71 MB
    SCAN THIS IMAGE – how to use the augmented reality options Perspective. Augmented reality makes the fascination of Porsche an even more intense experience. Annual and Simply download the Porsche Newsroom app from the App Sustainability Report Store or Google Play, select of Porsche AG the augmented reality function in the menu and look out for 2017 the labels SCAN THIS IMAGE and SCAN THIS PAGE. View the labelled images and pages on the screen of your smartphone or tablet – and bring the SCAN content to life. THIS IMAGE Seventy years ago: the first Porsche “356”. The number 1. Maximisation of minimalism. Devotion to design. Elegance. One: rebel, cult figure, eternally young, alone. The other: magician, legend steeped in contradiction, never without her. Conjunction of opposites, united in passion. The number 130 on the bonnet of James Dean’s Porsche 550 Spyder: symbol of a movement that transcends death. In Salzburg people could tell when Herbert von Karajan was there by the car parked at the offices of its famous festival hall: “God drives a Porsche.” Furrows and flat surfaces, curves and corners, aggression and graciousness, strength and elegance, speed and solidity, focussed concentration and casual playfulness: seemingly disparate forces in precisely calibrated balance. Breaking free of the confluence of automated currents, setting one’s own course, experiencing the pleasure of authenticity beyond efficiency. Refuge for individualists, nonconformists, the avant-garde. Exclusive, yet right in the middle of it all. Targa Florio, Le Mans: dream-like places, built out of triumph and tragedy. One: a victorious hero. The other: still a hero in defeat.
    [Show full text]
  • Karl E. Ludvigsen Papers, 1905-2011. Archival Collection 26
    Karl E. Ludvigsen papers, 1905-2011. Archival Collection 26 Karl E. Ludvigsen papers, 1905-2011. Archival Collection 26 Miles Collier Collections Page 1 of 203 Karl E. Ludvigsen papers, 1905-2011. Archival Collection 26 Title: Karl E. Ludvigsen papers, 1905-2011. Creator: Ludvigsen, Karl E. Call Number: Archival Collection 26 Quantity: 931 cubic feet (514 flat archival boxes, 98 clamshell boxes, 29 filing cabinets, 18 record center cartons, 15 glass plate boxes, 8 oversize boxes). Abstract: The Karl E. Ludvigsen papers 1905-2011 contain his extensive research files, photographs, and prints on a wide variety of automotive topics. The papers reflect the complexity and breadth of Ludvigsen’s work as an author, researcher, and consultant. Approximately 70,000 of his photographic negatives have been digitized and are available on the Revs Digital Library. Thousands of undigitized prints in several series are also available but the copyright of the prints is unclear for many of the images. Ludvigsen’s research files are divided into two series: Subjects and Marques, each focusing on technical aspects, and were clipped or copied from newspapers, trade publications, and manufacturer’s literature, but there are occasional blueprints and photographs. Some of the files include Ludvigsen’s consulting research and the records of his Ludvigsen Library. Scope and Content Note: The Karl E. Ludvigsen papers are organized into eight series. The series largely reflects Ludvigsen’s original filing structure for paper and photographic materials. Series 1. Subject Files [11 filing cabinets and 18 record center cartons] The Subject Files contain documents compiled by Ludvigsen on a wide variety of automotive topics, and are in general alphabetical order.
    [Show full text]
  • Preparacion Irmscher De Opel
    Éxito por Competencia:Retrato de la casa Irmscher. La historia de la casa Irmscher y del éxito mundial del grupo de empresas Irmscher están íntimamente vinculados al fundador. Günter Irmscher, y a su carrera profesional. Como joven ingeniero de una empresa de la industria de aceites minerales, y como persona de enlace con la industria automovilística, despertóse su pasión por el deporte del motor. Günter Imscher participó en todas las competiciones: Circuitos, montaña, rallyes. En las horas de la tarde y de la noche se preparaban los vehículos, en los fines de semana se tomaba parte en las competiciones. Con una preparación cuidadosa, con pocos medios, pero con alto conocimiento de la conducción, era posible, en aquellos tiempos, lograr éxitos. Günter Imscher lo consiguió, y pronto pasó a ser uno de los mas conocidos deportistas alemanes del motor. En 1964 ganó sobradamente la copa ONS, en 1965 el campeonato de coches de turismo. Con el copiloto Harald Andersen venció Irmscher en 1967 con una ventaja de 26 minutos en la vuelta a Europa. A parte de sus cualidades como deportista del motor, Günter Imscher ganó rápidamente renombre como especialista en motores. En 1968 osó por último establecerse por su cuenta primeramente sin vinculación a ninguna marca. El capital inicial lo obtuvo del producto de la venta de su Kadett de rallye. El know-how (saber como) adquirido por Günter Imscher antes de la fundación de la casa y su consecuente puesta en práctica sigue siendo hoy dia garantia del éxito del grupo de empresas. La casa Irmscher se expansionó rapidamente, especializándose en vehículos de la marca Opel.
    [Show full text]
  • YOUNG Tariff (Available from June 15Th, 2020)
    Ubeeqo - YOUNG Tariff (Available from June 15th, 2020) CARSHARING Rates Fuel and insurance always included. No fixed contracts. CATEGORY HOUR DAY 2ND DAY SMALL 5,5€ 46€ 42€ Opel Adam, Fiat 500 Cabrio, Fiat 500, Kia Picanto, Toyota Aygo. MEDIUM 6,7€ 52€ 46€ Peugeot 208, Audi A1 TDI, Opel Corsa, Kia Rio, Audi A1 TFSI Volkswagen Polo. ECO 7,2€ 55€ 50€ Opel Corsa ECO, Toyota Yaris ECO, Ioniq ECO, Opel Mokka ECO. LARGE Peugeot Partner, Seat Leon, Volkswagen Golf, Opel Astra, Audi 8,2€ 65€ 54€ New A1, Jeep Renegade Multijet, Renault Kangoo, Citroën Berlingo, Jeep Renegade MT6, Seat Leon TDI. ZERO 8,5€ 65€ 54€ Audi A3 e-tron FAMILY 9,5€ 75€ 65€ Kia Carens, Opel Zafira, Seat Alhambra, Ssangyong Rodius, Volkswagen Touran. VAN 11,5€ 85€ 81€ Peugeot Expert, Peugeot Traveller, Renault Traffic, Citroën SpaceTourer, Citroën Jumpy. MILEAGE First 30 km (always, in each booking) INCLUDED Km 30 - 100 0,25€ From km 101 0,18€ LONG DURATION Rates For longer bookings. At the time of booking, 200km will be charged at €0.15/km. Fuel and insurance always included. CATEGORY 1 2 3-6 7-14 15-23 +24 SMALL 41€ 32€ 27€ 27€ 25€ 25€ Opel Adam, Fiat 500 Cabrio, Fiat 500, Kia Picanto, Toyota Aygo. MEDIUM 49€ 35€ 28€ 28€ 27€ 26€ Peugeot 208, Audi A1 TDI, Opel Corsa, Kia Rio, Audi A1 TFSI Volkswagen Polo. ECO 55€ 42€ 31€ 31€ 29€ 27€ Opel Corsa ECO, Toyota Yaris ECO, Ioniq ECO, Opel Mokka ECO. LARGE Peugeot Partner, Seat Leon, Volkswagen Golf, Opel Astra, Audi New A1, Jeep 67€ 57€ 46€ 39€ 39€ 35€ Renegade Multijet, Renault Kangoo, Citroën Berlingo, Jeep Renegade MT6, Seat Leon TDI.
    [Show full text]