Cars
Sounds insane but General Motors' European division, Opel and its sister brand Vauxhall, may have to make huge discounts on their models in order to sell enough cars to save jobs in Germany and meet the terms of the €1.5 billion or $2.07 billion US short-term loans promised by Berlin. Simon Empson, managing director at Broadspeed.com, a UK based website that sells cars, told Bloomberg news that Opel and Vauxhall may even have to slash prices by a whopping "40 percent or more" to meet their sales targets.
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm: Nick Reilly To Temporarily Head Opel And Vauxhall After Carl-peter Forster's Resignation
As many anticipated, General Motors announced today that the company's executive vice president and head of international operations, Nick Reilly, will take over responsibilities for the operations of Opel and Vauxhall Europe. Reilly, 59, will replace...
- Report: Gm's Opel Could Build Cars For Other Makers If Acquired By Magna
And the plot thickens... Citing sources close to Magna International, German newspaper 'Welt am Sonntag' is reporting that if the Austrian-Canadian auto-parts maker wins the battle against Fiat S.p.A. and acquires a controlling stake in General...
- European Opel And Vauxhall Dealers Want To Buy 20% Stake From General Motors
Instead of waiting for fate to strike, Opel and Vauxhall dealers in Europe have decided to take matters into their own hands by making a proposition to buy a direct equity stake in the European automaker that has been put up for sale by General Motors....
- Gm: Opel's New Owner To Be Chosen By End Of May
In a news conference in Detroit today, General Motors CEO Fritz Henderson told reporters that the company will single out a buyer for Opel and its British sister brand Vauxhall, before the end of May. "We are speaking with multiple bidders. We would like...
Cars
Report Says Opel May Have to Slash European Prices by 40% to Raise Output and Save Jobs
Sounds insane but General Motors' European division, Opel and its sister brand Vauxhall, may have to make huge discounts on their models in order to sell enough cars to save jobs in Germany and meet the terms of the €1.5 billion or $2.07 billion US short-term loans promised by Berlin. Simon Empson, managing director at Broadspeed.com, a UK based website that sells cars, told Bloomberg news that Opel and Vauxhall may even have to slash prices by a whopping "40 percent or more" to meet their sales targets. Several analysts agree that due to the nature of the deal, Canadian auto-parts maker Magna International, which is leading a group of investors negotiating for the acquisition of the Opel brand, may very well focus on raising production rather than on generating profits.
This of course could lead to a devastating for many companies, price war in Europe. "Everybody is looking to generate cash, and the quickest but not necessarily the most effective way is to discount," told the news agency, Stefan Bratzel, director of the Center of Automotive Research at the University of Applied Sciences in Bergisch Gladbach, Germany. "Peugeot, Renault and Ford need to make sure they don't fall by the wayside."
Via: Bloomberg
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm: Nick Reilly To Temporarily Head Opel And Vauxhall After Carl-peter Forster's Resignation
As many anticipated, General Motors announced today that the company's executive vice president and head of international operations, Nick Reilly, will take over responsibilities for the operations of Opel and Vauxhall Europe. Reilly, 59, will replace...
- Report: Gm's Opel Could Build Cars For Other Makers If Acquired By Magna
And the plot thickens... Citing sources close to Magna International, German newspaper 'Welt am Sonntag' is reporting that if the Austrian-Canadian auto-parts maker wins the battle against Fiat S.p.A. and acquires a controlling stake in General...
- European Opel And Vauxhall Dealers Want To Buy 20% Stake From General Motors
Instead of waiting for fate to strike, Opel and Vauxhall dealers in Europe have decided to take matters into their own hands by making a proposition to buy a direct equity stake in the European automaker that has been put up for sale by General Motors....
- Gm: Opel's New Owner To Be Chosen By End Of May
In a news conference in Detroit today, General Motors CEO Fritz Henderson told reporters that the company will single out a buyer for Opel and its British sister brand Vauxhall, before the end of May. "We are speaking with multiple bidders. We would like...