REPORT: Opel/Vauxhall dealers want to help, plan to raise 500M euros
The 4,000 dealers will raise the money by contributing €150 for every vehicle sold for the next three years. Dealers realize that the move will be a tough one given the fact that Opel/Vauxhall sales are down 21.8% on the year, but the alternative is far less attractive. Without a brand, the 4,000 dealers would be forced to pick up a new franchise, sell and service only used vehicles, or close altogether.
The money raised by dealers would likely come in addition to the €3.3 million GM Europe is seeking from other European governments. Canadian supplier Magna and Italian automaker Fiat are among the entities vying for a chunk of GM's European operations. A buyer is expected to be announced as soon as next week.
[Source: Automotive News subs req'd]
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