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GM reportedly considering selling Opel

The Local · 9 Jun 2011, 16:18

Published: 09 Jun 2011 16:18 GMT+02:00

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The website of news magazine Der Spiegel said that GM managers are concerned it’s European division, which includes Opel and Britain's Vauxhall, is struggling while the rest of the company has rebounded well.

They also believe that GM is no longer dependent on Opel technology, and instead is able to use know-how from Korean subsidiaries, Der Spiegel reported.

Possible buyers include Volkswagen or Chinese automakers.

Speculation about Opel has been running rampant in recent months as General Motors executives have expressed scepticism about the brand, which has been owned by GM since 1929.

In March, GM CEO Dan Akerson said he was “impatient” about losses at the carmaker.

In 2009, Opel experienced serious financial problems and was nearly sold to a group of investors led by a Canadian auto parts company with Russian backers. Debate raged in Germany about whether the government should prop it up, but GM backed out of the sale at the last minute.

If GM does sell Opel, it will likely concentrate on building market share with its more successful Chevrolet Brand as well as its Korean subsidiary, Auto Bild magazine reported.

Opel has officially dismissed the possibility of a sale.

"This is pure speculation, we will not comment on it," an Opel spokesman told news agency AFP.

But the news has rattled employees and union representatives. Opel boss Karl-Friedrich Stracke complained of “rumours” and “speculation” in a letter to employees, while appealing them to remain confident in the carmaker's future.

Story continues below…

“I will not let myself be influenced by the speculation in the press,” he wrote. “Please don’t let yourself be either.”

Meanwhile, a spokesman for the German state of Thuringia, where Opel has a plant, told news agency Reuters that all the talk was “nonsense” and that it did not believe GM would sell it's German unit.

The Local/AFP/DPA/mdm

The Local (news@thelocal.de)

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Your comments about this article

01:03 June 10, 2011 by whpmgr
I have friends that work fro Opel in Germany adn Spain. My Wife used to be a manager there also, and my father in law retired a few years ago. Opel is over priced, they are selling much lower quality for the same price as the BMWs. Who are they kidding? My Father in law says the Opel is technologically equal to BMW. I know that Opel made teh Diesels for BMW soem years back, but I never sat in any Opel and said felt that I was in an Equal to a Mercedes, BMW or even a Volkswagon.

Teh union workers were driving Fords, BMWs, Mercedes, and many Japanese cars while producing the Opel. If I went by a car lot and foudn teh manufacturer's own employees didnt want to buy a car built by their own hands, why would I?

The fact is that people have freedom, the unions tell you you do, but what happens when idiots decide to cut theor own throat and use another competitor's product instead of their own? I think it fair to saythat anyone working for Opel andnot driving an Opel or other GM product should be fired. They are damaging the brand.

Of course, I remember my father in law having problems with his Opel, a brand new one, and the dealership told him to be quiet and not complain because he knew where my father in law worked and word might get back to them that my father in law was talking bad about opel...bad product, nazi tactics when workers realized it is a bad car, and no way to fix it because the union has broken everythin g
10:25 June 10, 2011 by trash head
> I think it fair to saythat anyone working for Opel andnot driving an Opel or other GM product should be fired. They are damaging the brand.

When you work at McDonalds you are not allowed to eat at Burger King anymore (Besides the fact that no one really wants to eat what is served in both "restaurants")?

> bad product, nazi tactics when workers realized it is a bad car, and no way to fix it because the union has broken everythin g

The Nazis had no bad products and also no unions. The only "Union" was the NSDAP and everywhere.

And when your father in law is not able to claim a bad sell or even call for warranty, then i ask myself what kind of bad lawyers Opel hired.
13:13 June 10, 2011 by ND1000
GM should sell Opel to the Chinese ASAP before it loses anymore value.
18:47 June 10, 2011 by jmclewis
I hope that Opel is freed from GM mismanagement and can become independently viable.
20:16 June 13, 2011 by whpmgr
There is no way that Opel can continue as it has unloess it changes things. When people can take 2 years to raise a kid and get their job and promotions and raises..that is wrong.

If they can lower the cost of personnel, they can afford to charge less and thus, get their car priced for its true value.

My thoughts are that Opel is about out of ideas, and isn't up to the challenge of remaking itself and raising from the ashes...it is a dinosaur and should join the rest of its bretheren in the tar pits....
16:08 June 14, 2011 by Englishted
A responce to @whpmgr

I drive a opel and have had no problem with it. @ whpmgr do you?

I have also work in a car factory . @whpmgr have you?

Same price as BMW? change your dealership .

Nazi tactics? what are you taking because it is not working.

"If they can lower the cost of personnel, they can afford to charge less and thus, get their car priced for its true value."

What percentage of the cost of a car is the labour? I don't know ,if you don't then why say it.

The chinese can make it cheaper ,I know but they can make everything cheaper and then we can all have more spare time it is also known as unemployment is that what you want?

A real useless bit of union bashing ,but you are not in a union are you ?.
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