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Archive for Category: "Opel"
GM to invest $5 billion in Opel
General Motors (GM) said its board of directors has approved the company’s plans to invest €4 billion, or about $5.2 billion in Opel through 2016. Under its 10-year plan DRIVE!2022, Opel intends to return to profitability by the middle of the decade. “As a global automotive company GM needs a strong presence in Europe – [...]
New Opels Beg the Question: Will GM USA Import?
General Motors has their fingers in almost every part of the automotive market. Europe not only has Chevrolet, but GM built Opel and Vauxhall while Australia gets the hot-rod Holdens. For years, these cars differed from what GM USA offered, but a few gems have made their way across the sea and on to our [...]
Opel Insignia OPC ‘Unlimited’ with 270 km/h Top Speed
Opel has just announced a new “unlimited” variant of the popular Insignia Sedan. According to the release, the car has no speed limiter and is capable of touching 270 km/h which for us Americans equates to about 170 mph. We have always thought that Insignia is a great looking vehicle and with this unlimited version [...]
2011 Opel Astra Sports Tourer
Opel introduces the Astra Sports Tourer – a sleek wagon featuring first class practicality in an athletic and stylish shape. This compact wagon is set to build on the outstanding sales success of its five-door hatchback sibling, for which more than 160,000 orders have been placed in only six months. Sharing the same Opel design [...]
GM to restructure Europe unit without state aid
General Motors gave up on Wednesday on getting state aid from European governments for its loss-making Opel unit, saying it now had the financial firepower to finance a restructuring itself. “The validity and reasons for requesting government guarantees have … not changed but the process has proven to be much more complex and longer than [...]
Blow for GM as Berlin rejects Opel aid request
Germany dealt General Motors a major blow on Wednesday as Berlin turned down a request for 1.1 billion euros (1.3 billion dollars) in loan guarantees for its loss-making Europe unit Opel/Vauxhall. Economy Minister Rainer Bruederle said he had rejected GM’s application for help for Opel from a special fund set up to help firms hit [...]
GM to more than triple Opel investment
US automaker General Motors said Tuesday it would more than triple its contribution to a rescue of ailing European division Opel/Vauxhall, providing more than half the total after calls from European governments. Opel said in a statement that GM would invest 1.9 billion euros (2.6 billion dollars) “as part of its commitment to the European [...]
Opel to launch inner-city electric car
Ailing carmaker Opel is considering launching an electric car for inner-city use to tap what it sees as a high-potential market, the firm’s boss said in an interview Sunday. “We are thinking about a small electric vehicle,” the chief of the General Motors unit, Nick Reilly, told Germany’s Bild am Sonntag newspaper. “We believe there [...]
Opel rescue plan falls short
The German government and parliament, which have been asked for money to help rescue Opel, said Wednesday that a plan to restructure the ailing car maker was insufficient. Opel has sought 1.5 billion euros (2.0 billion dollars) from Berlin, which awaits the results of a private audit before saying whether the government will give Opel [...]
Opel unveils turnaround plan, 8,300 jobs slashed
Around 8,300 jobs will be slashed in Europe, Opel boss Nick Reilly said on Tuesday, as he unveiled a long-awaited plan for the future of the ailing General Motors unit and its 50,000 employees. The proposal to restructure Opel and British sister brand Vauxhall has now been officially submitted to German authorities, he said, and [...]
