G.M bankruptcy
Discussion
DevilYellowCV8 said:
Guess now that it's confirmed that Magna will be the new owner of Vauxhall/Opel I assume that links will be broken with GM Holden with regards to V8 exports from Aus. Opel didn't but into the V8 'thing'
Steering wheel wrong side, they would have to have the yank or middle east G8........
donk r8 said:
DevilYellowCV8 said:
Guess now that it's confirmed that Magna will be the new owner of Vauxhall/Opel I assume that links will be broken with GM Holden with regards to V8 exports from Aus. Opel didn't buy into the V8 'thing'
Steering wheel wrong side, they would have to have the yank or middle east G8........
Are GM not keeping 35% stake which gives them an outlet for the rebadged holdens?
Pretty sure this is a better bet than Fiat getting control.
Looks like the German government with $1 bill aid/loan will get the jobs to Germany but being part of the EU surely this is illegal (like what Peugeot were doing in France closing Eastern European factories).
Vauxhall seem to be the more efficient part of GM Europe but I could be wrong.
Pretty sure this is a better bet than Fiat getting control.
Looks like the German government with $1 bill aid/loan will get the jobs to Germany but being part of the EU surely this is illegal (like what Peugeot were doing in France closing Eastern European factories).
Vauxhall seem to be the more efficient part of GM Europe but I could be wrong.
Moanro5.7 said:
.... but on the down side will be be able to get bits from Vauxhall/opel in the futue?
I think you'll find that Vauxhall weren't very efficient at supplying parts even when the Monaro was still current.The company and its dealers just can't provide a decent level of support for the owners of the low-volume imports and that being the case I actually think its best they don't bother bringing them in (I'll prepare to be ripped to shreds for that comment!). That said, I still drive their other products - I tried a competitor's product as my everyday drive and went back to another Vauxhall within 2 months.
Regardless of all that, I do hope the company survives and the employees in the UK get some good news soon.
DevilYellowCV8 said:
I think Opel did evaluate both the Monaro and the VE Commodore but didn't go with either.
Correct - they acquired several test mules, most of which were either scrapped or sold off very cheap in non-finished form. At the Irmscher 40th anniversary party I was approached by a random German guy who has one of these test mules and was looking for info on where to get parts to complete the car - it runs but loads of interior bits were missing such as one door card, carpets etc...Moanro5.7 said:
yeah the dealers not the best when u phone them they run away and say "ooo emmmm we dont deal with that car u need to phone the dealer 300 miles away" lol But i hope i speak for everyone in saying Thanks vauxhall for bringing in these cars 
Long life the Monaro & VXR8
Long life the Monaro & VXR8Couldn't agree more - we have Vauxhall to thank for that brief moment in UK motoring history when you could buy a genuine RHD muscle car in the UK.
What's going to happen to Chevrolet Europe, I've seen some their dealers 'attached' to Vauxhall premises. The muddled branding didn't help - sticking the chevy badge on some very unworthy cars (Daewoo Matiz??)
GSE said:
Moanro5.7 said:
yeah the dealers not the best when u phone them they run away and say "ooo emmmm we dont deal with that car u need to phone the dealer 300 miles away" lol But i hope i speak for everyone in saying Thanks vauxhall for bringing in these cars Long life the Monaro & VXR8
sticking the chevy badge on some very unworthy cars (Daewoo Matiz??) Long life the Monaro & VXR8many years ago I booked a budget hire car. When I got there they offerred me a matiz or fiat fiorino? Some sort of crappy van that a florist would use. I told them to f
k off as I wouldn't be seen dead in either, ever.
It's a joke when you see the chevrolet name on a crappy car. Do you suppose the buyers brag about owning a chevrolet, maybe they claim it's been developed by corvette. It's always old people that buy into this crap, maybe they think the econovette is really fast when compared to the nissan viagra.
k off as I wouldn't be seen dead in either, ever.It's a joke when you see the chevrolet name on a crappy car. Do you suppose the buyers brag about owning a chevrolet, maybe they claim it's been developed by corvette. It's always old people that buy into this crap, maybe they think the econovette is really fast when compared to the nissan viagra.
Boosted LS1 said:
many years ago I booked a budget hire car. When I got there they offerred me a matiz or fiat fiorino? Some sort of crappy van that a florist would use. I told them to fk off as I wouldn't be seen dead in either, ever.
It's a joke when you see the chevrolet name on a crappy car. Do you suppose the buyers brag about owning a chevrolet, maybe they claim it's been developed by corvette. It's always old people that buy into this crap, maybe they think the econovette is really fast when compared to the nissan viagra.
k off as I wouldn't be seen dead in either, ever.It's a joke when you see the chevrolet name on a crappy car. Do you suppose the buyers brag about owning a chevrolet, maybe they claim it's been developed by corvette. It's always old people that buy into this crap, maybe they think the econovette is really fast when compared to the nissan viagra.
I'm going to get flamed here, but they did the same putting a Vauxhall badge on the Holdens.
I do notice a lot of owners on her simply refer to the Monaro, not "Vauxhall" Monaro.
Having said that look at the publicity Vauxhall got (and still gets) out of the Monaro
"General Motors will today become the third largest bankrupt in US corporate history when its files for protection under US Chapter 11 rules.
President Obama confirmed yesterday that the 100-year-old carmaker would go into administration as part of a rescue package that will see the US government inject $30bn for a 60% stake.
The Canadian government is putting up $9.5bn for an initial 12.5% stake, while the United Auto Workers Union will take 17.5%.
GM's bondholders will own the remaining 10% after they agreed to a debt for equity swap late last week. They also have warrants over a further 15% stake.
President Obama and GM chief executive Fritz Henderson are expected to explain the rationale of the deal after the bankruptcy filing this afternoon and to forecast that GM can re-emerge from administration within 60-90 days.
The US President reportedly decided to out GM into Chapter 11 after the progress made restructuring its equally troubled rival Chrysler.
Chrysler is expected to exit bankruptcy very soon after a judge approved a deal to sell most of its assets to Italian firm Fiat. That has increased hopes for a quick resolution of GM's problems.
"We want a quick, clean exit as soon as conditions permit," Treasury Secretary Timothy Geithner said. "We're very optimistic these firms will emerge without further government assistance."
The US plans got a boost over the weekend as Germany agreed to a short-term refinancing package for Opel/Vauxhall, GM’s European arm. This bridging loan loan will keep the European businesses afloat while final details are thrashed out for their sale to a consortium of Magna International, the Canadian auto group, and Sberbank, a Russian bank.
GM is expected to launch a huge retrenchment programme once it is enters Chapter 11 with job cuts in the tens of thousands and eleven US plants earmarked for closure. "
President Obama confirmed yesterday that the 100-year-old carmaker would go into administration as part of a rescue package that will see the US government inject $30bn for a 60% stake.
The Canadian government is putting up $9.5bn for an initial 12.5% stake, while the United Auto Workers Union will take 17.5%.
GM's bondholders will own the remaining 10% after they agreed to a debt for equity swap late last week. They also have warrants over a further 15% stake.
President Obama and GM chief executive Fritz Henderson are expected to explain the rationale of the deal after the bankruptcy filing this afternoon and to forecast that GM can re-emerge from administration within 60-90 days.
The US President reportedly decided to out GM into Chapter 11 after the progress made restructuring its equally troubled rival Chrysler.
Chrysler is expected to exit bankruptcy very soon after a judge approved a deal to sell most of its assets to Italian firm Fiat. That has increased hopes for a quick resolution of GM's problems.
"We want a quick, clean exit as soon as conditions permit," Treasury Secretary Timothy Geithner said. "We're very optimistic these firms will emerge without further government assistance."
The US plans got a boost over the weekend as Germany agreed to a short-term refinancing package for Opel/Vauxhall, GM’s European arm. This bridging loan loan will keep the European businesses afloat while final details are thrashed out for their sale to a consortium of Magna International, the Canadian auto group, and Sberbank, a Russian bank.
GM is expected to launch a huge retrenchment programme once it is enters Chapter 11 with job cuts in the tens of thousands and eleven US plants earmarked for closure. "
Edited by MyM8V8 on Monday 1st June 13:40
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