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General Automotive Forum
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#1
11-04-2009, 12:52 AM
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GM takes a U-turn
GM announced they will not be selling Opel and Vauxhall to Magna and Sberbank. (Most news reports just say Magna, but a good chunk of the cash and % ownership was to go to Sberbank) Or to anyone else either. GM is keeping them.
The German govt. was going to give Magna/Sberbank $6.7 billion to finance the deal. In exchange Magna was going to keep all of the Opel plants in Germany open. The Germans are unhappy, since this puts German plants at some risk of closure. http://news.bbc.co.uk/1/hi/business/8341485.stm Some speculation here: http://apps.detnews.com/apps/blogs/d...php?blogid=332
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Last edited by Andrew*Debbie; 11-05-2009 at 02:49 AM. 
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#2
11-04-2009, 01:08 PM
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Yeah that really annoyed the Germans since now GM plans to cut at least 10.000 jobs.
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#3
11-04-2009, 01:52 PM
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I saw that on Jonny Smith's twitter. (Fifth Gear presenter, if the name doesn't ring a bell)
Interesting...
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1984 318i/man./Tornadorot* 1990 525i/man./Alpinweiß* 2001 525i/SP/PP/man./Cosmosschwarz/Sandbeige* 2002 X5 3.0i/SP/PP/man./Sirius/BT/Titansilber/Sandbeige* 2006 330i/6sp man./SP/PP/CWP/Sirius/Blackline/Rear Fogs/Arktis/Grau* 2001 525i/step./PP/CP/CWP/Rear Shade/OEM Sirius/OEM BT/OEM AUX/M5 Rear Sway/Bilstein HDs/Beisan Vanos/Rear Fogs/Schiefergrün/Sandbeige *retired
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#4
11-05-2009, 07:09 AM
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Quote:
Vladimir Putin (yes him) has come out against GM keeping Opel. Sberbank was to own 35% of Opel. Magna's share was to be 20%. Sberbank is majority owned by the Russian Central Bank. ============== On the other hand, Unite the union representing workers at the 2 Vauxhall plants in the UK is very positive about Vauxhall staying with GM.
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Temp inside my home in C and power consumption in Watts:
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#5
11-05-2009, 07:47 AM
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Glad to hear Opel is staying along for the ride, but the future still looks grim.
Growing up in Germany, many of the cars I admired as a teenager were Opels and I hope the brand can continue to make cars.
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.: Commando Winter :. 2009 328i Sedan - Ordered: 2/24/09 .:. Delivered: 5/6/09 Jet Black | Black Dakota | Aluminum | Premium | Sport | Xenon | CA | Split Fold Seats  
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#6
11-11-2009, 09:07 PM
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dume asses they are. So whan will GM close up????
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#7
11-12-2009, 03:46 AM
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Good, after what the Germans did to Chrysler, we should milk opel for everything it's worth.
--nw
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#8
11-12-2009, 04:09 AM
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Good move by GM. Very much needed for European sales and global platform sharing.
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