RE: GM Says Vauxhall's A Keeper
Wednesday 4th November 2009
Troubled General Motors has decided to retain its European operations, just as it was finalising plans to sell them off as part of its Chapter 11 bankruptcy reorganisation.
GM Says Vauxhall's A Keeper
Last-minute reprieve as General Motors decides not to sell its European arm
Opel and Vauxhall were to be sold to a consortium led by Canadian parts manufacturer Magna, but after months of negotiation GM's president Fritz Henderson has announced that GM will hold on to the European manufacturers. The move probably spells good news for the 2,000 workers at Vauxhall's Ellesmere Port factory, whose jobs that were previously thought under threat may now be saved.
The U-turn from GM comes as fellow 'troubled giant' Chrysler may be about to pull its house-brand out of Europe altogether. Under new stewardship from FIAT the Chrysler brand could disappear from European showrooms, leaving Jeep as the only international badge on Chrysler's books. FIAT will confirm its plans for Chrysler in a press conference tomorrow.
Discussion
Who would actually miss the 300C? It's one of those cars where I wonder if motoring journalists have special examples as there reviews consistently failed to mention what a dismal, agricultural pile of donkey crap it is. Maybe it was just shock that it wasn't *quite* as awful as, say, a Dodge Stratus? In the states for £14k a V8 one might be a reasonable value proposition?
Dave
Dave
In the USA GM make loads of pickups and SUVs which are expensive to run and (finally) car drivers are demanding smaller, fuel efficient cars.
The European side (Opel) make cars people want, by and large, and make money. Temporarily Opel needed help, turned to Mrs Merkel who had pledged to keep the company open in the face of the election. She fell foul of European anti-trust rules as she only offered help to Magna as buyer.
Now GM step neatly back and say 'thanks, we'll have that dosh because we may need to lay-off 5,000 now we are going to keep Opel ourselves'.
Mrs M neatly wrong-footed.
Seems the smartest thing GM have done in a while. Fritz Henderson may well be who they need.
The European side (Opel) make cars people want, by and large, and make money. Temporarily Opel needed help, turned to Mrs Merkel who had pledged to keep the company open in the face of the election. She fell foul of European anti-trust rules as she only offered help to Magna as buyer.
Now GM step neatly back and say 'thanks, we'll have that dosh because we may need to lay-off 5,000 now we are going to keep Opel ourselves'.
Mrs M neatly wrong-footed.
Seems the smartest thing GM have done in a while. Fritz Henderson may well be who they need.
This could be a rare occasion where we (britain) are helped by the eurocrats. Germany tried to buy Magnas favour with a massive cash loan to help secure Opel, but this has been ruled as anti competetive, top that off with the recesion starting to calm down in the USA and may not be curtains for Vauxhall just yet. According to the bbc Opel workers are threatening to strike over the matter.
RedYellowGreen said:
This could be a rare occasion where we (britain) are helped by the eurocrats.
Won't be the last time - Britain's days of "Greatness" are over, and one thing the EU are good at is trying to level the playing-field...given our waning economy and political influence, remaining in the EU might actually be a GOOD thing!Also a few of the Opel/Vauxhall GM models are now sold in the US but under other GM marks. They sell the Astra over there now. I would think it would have been foolish for GM to sell the EU operations as I think that many of the models would sell over there.
As for Chyrsler, didnt they exit once in the 1980s from selling cars in the UK. Would be a shame for Fiat to stop selling the models over here which seems to have had more of a presence over the years.
As for Chyrsler, didnt they exit once in the 1980s from selling cars in the UK. Would be a shame for Fiat to stop selling the models over here which seems to have had more of a presence over the years.
mark3man said:
In the USA GM make loads of pickups and SUVs which are expensive to run and (finally) car drivers are demanding smaller, fuel efficient cars.
The European side (Opel) make cars people want, by and large, and make money. Temporarily Opel needed help, turned to Mrs Merkel who had pledged to keep the company open in the face of the election. She fell foul of European anti-trust rules as she only offered help to Magna as buyer.
Now GM step neatly back and say 'thanks, we'll have that dosh because we may need to lay-off 5,000 now we are going to keep Opel ourselves'.
Mrs M neatly wrong-footed.
Seems the smartest thing GM have done in a while. Fritz Henderson may well be who they need.
The European side (Opel) make cars people want, by and large, and make money. Temporarily Opel needed help, turned to Mrs Merkel who had pledged to keep the company open in the face of the election. She fell foul of European anti-trust rules as she only offered help to Magna as buyer.
Now GM step neatly back and say 'thanks, we'll have that dosh because we may need to lay-off 5,000 now we are going to keep Opel ourselves'.
Mrs M neatly wrong-footed.
Seems the smartest thing GM have done in a while. Fritz Henderson may well be who they need.
RedYellowGreen said:
This could be a rare occasion where we (britain) are helped by the eurocrats. Germany tried to buy Magnas favour with a massive cash loan to help secure Opel, but this has been ruled as anti competetive, top that off with the recesion starting to calm down in the USA and may not be curtains for Vauxhall just yet. According to the bbc Opel workers are threatening to strike over the matter.
Oh yeah genius idea!! 
RM part 2.
Engineer1 said:
Sounds like Vauxhall and Opel weren't really for sale, the Germans turned up with a wheelbarrow load of cash and an iffy offer that meant they had to look into it, then it turned out that they weren't as bad off as they thought.
But in the meantime Meerkat got re-elected Chancellor of Germany on the promise of no job losses and now she has, Oh look deals fallen through = job losses.I'm guessing that now we will be told that the axe will fall in Germany so that it can be proved that Lord Prince Mandy and his minion Winky have protected British jobs which will help them get extra votes.
If anyone can find out when GM are announcing precise details of the job cuts and factory closures I wouldn't be at all surprised to find that four days before that date we have a general election.
The Hypno-Toad said:
Anyone know if Saab is now off the market as well or is Koenigsnneegg still buying them?
The deal should have been finalised in September. Cant find any info on it though. The $600 million loan needed was approved, and GM is supposed to continue to supply platforms, powertrains and a few other bits and bobs. Not sure for how long though. I figure it shouldn't be long before they announce the completion of the sale since its overdue by a fair bit = )
Looks like the Germans aren't happy http://news.bbc.co.uk/1/hi/business/8343517.stm . Whilst the
Germans are going on strike the union at Vauxhall seem to be taking the sensible approach. A British car union acting sensibly
A far cry from the 1970's.
Germans are going on strike the union at Vauxhall seem to be taking the sensible approach. A British car union acting sensibly
A far cry from the 1970's.willE36 said:
The Hypno-Toad said:
Anyone know if Saab is now off the market as well or is Koenigsnneegg still buying them?
The deal should have been finalised in September. Cant find any info on it though. The $600 million loan needed was approved, and GM is supposed to continue to supply platforms, powertrains and a few other bits and bobs. Not sure for how long though. I figure it shouldn't be long before they announce the completion of the sale since its overdue by a fair bit = )
you can read more about it at http://turbonines.com/
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