Russian automotive manufacturer GAZ is being courted by a number of handsome suitors, according to Inside Line. While the company currently produces the Volga Siber at its Gorky Automobile plant, there's some indication that Daimler may want the facility to switch to building the Mercedes-Benz E-Class. The move would kinda sorta be an all-in-the-family affair as the Siber is currently built off of the old Chrysler Sebring platform. With Chrysler out of Daimler's portfolio and Mercedes-Benz looki
General Motors was meant to decide who would be the winning bidder for Opel last Friday. But it didn't. Instead, GM asked the German government for more information on federal financial assistance available to buyers. The German government would like Magna to take over Opel as it vowed to retain a huge chunk of jobs in Germany, but GM has given every indication of preferring Belgian investment fund RHJ.
Even though Beijing Automotive (BAIC) tendered a non-binding offer for Opel, the company is said to have no chance of actually acquiring the brand. General Motors is still in talks with Magna and its partners, GAZ and Sberbank, and according to Sberbank CEO German Graf, "The choice has been made and the question now is of how to structure the deal."
Fiat CEO Sergio Marchionne, watching the travails of GM, Opel and Magna from his comfy Italian perch, has sent word that his previous offer for Opel is still on the table if anyone is interested. That offer, though, can't be sweetened because he doesn't "believe we could improve Fiat's offer. It's the most rational one we can put forward from an industrial viewpoint."
When it came to buying Opel, Fiat's Sergio Marchionne told GM and the German government: "If you have a better offer, take it." They both took Magna, along with its Russian partners Sberbank and GAZ, because that consortium offered a better competitive arrangement and fewer job cuts in Germany. The deal wasn't slated to be finished until September, but it's encountered a few pockets of serious turbulence.
Bo Andersson was General Motors' global purchasing group vice president up until last Friday, when he suddenly resigned without warning. Now, we appear to know why he left – Automotive News is reporting that Andersson will become CEO of GAZ, the Russian consumer and military vehicle maker.
If you tried telling us even as recently as a year ago that General Motors would be forced to sell its European assets and that a partnership between a Canadian parts supplier and a Russian bank would step up to take the stake, we'd have probably raised a few eyebrows. But such is the state of the General and the industry at large, with Magna and Sberbank looking poised to take a big chunk of Opel of GM's hands. The question everyone is asking, however, is what the Russian state bank wants with
Russian Prime Minister Vladimir Putin himself has said that at the behest of Magna, Russia's GAZ conglomerate is considering taking a 30% interest in Opel. GAZ, though, has made it clear that it does not want to run or own Opel – what it really seems to want is to have cars to produce at its factory in Nizhny Novgorod. Under such a proposal, Automotive News reports that Magna would take 20% of Opel.
According to an affidavit filed in the New York U.S. Bankruptcy Court where Chrysler filed for Chapter 11, the automaker's Co-President and Vice Chairman Tom LaSorda is quoted as saying "Chrysler has attempted in recent weeks to sell product lines and other units to a number of Chinese companies, but these efforts ... have been unsuccessful." The now bankrupt automaker offered the Chinese firms – including the Beijing Automotive Industry Holding Co. and Chery – engines, transmissions
Russia has long been included under the "emerging markets" umbrella that carmakers have been saying would lead to future industry growth. The economic fallout put an end to those predictions, with Russia suffering just as badly – and if you include the oil sector, some would say even worse – as any other economy. But even though sales are down, Frost & Sullivan predicts that Russia could rebound to be the world's 3rd largest auto market by 2012, behind the U.S. and China.
Yes, the car you see above is the Chrysler Sebring the new Volga Siber and I chose the image to illustrate the efforts of GAZ to become an important automaker. GAZ has bought 50 percent of the Italian diesel manufacturer VM Motori from its previous owner Penske Corporation. Who is the owner of the other half of the shares? GM. VM Motori is currently supplying diesel engines for Opel and Chevrolet, like the 2.0-liter diesels under certain European models. VM Motori is also working on the developm
Move over Modec, there's a new electric vehicle coming to Britain. LDV has announced they will launch an electric version of their Maxus this summer. Owned by Gorkovsky Avtomobilny Zavod (GAZ), Russia's largest vehicle manufacturing group, LDV plans the new variant as part of a recent £10 million investment by the parent company in the Maxus line-up. According to an article in the Birmingham Post, the all-electric will be offered in both the van (pictured above) as well as the chassis-cab
Okay, so maybe GAZ wasn't really interested in buying Land Rover and Jaguar from Ford, but that hasn't stopped Russian billionaire Oleg Deripaska from buying a big chunk of another U.S. automaker. Deripaska is the owner of GAZ and he just bought 5% of General Motors on the open market. Said to be worth about $16.8 billion, Deripaska seems perfectly capable of coughing up the $900 million it will take him to purchase his 5% at Monday's closing price of $32.45 per share. Besides his links to GAZ a
Contrary to the reports that surfaced yesterday asserting that Russian automaker GAZ was interested in purchasing Land Rover and Jaguar, a spokesman for the company has officially denied the rumors. Reuters quoted Oleg Deripaska, the billionaire behind Russian Machines, the umbrella corporation that owns GAZ, as saying that, "There is no interest from my company or from our subsidiary Gaz in any of these brands." 'Nuff said? Good, we're moving on.
Could Land Rover and Jaguar be headed to Russia? CNN Money is reporting that Group GAZ is showing some interest in purchasing the firms from Ford. Ford has said that it will entertain offers for the two British marques and although several names have been mentioned, this was the first we heard of GAZ being involved. GAZ has already denied the rumor, although it was pointed out that the company has expressed an interest in expansion. This comes almost exactly a year after GAZ first denied interes
Gregory from CarDesign.ru tipped us off that Russian automaker GAZ unveiled a preproduction version of its Tiger-2 SUV at the Moscow Motor Show recently. The Tiger-2 looks very HUMMER-esque in profile, but has a face only a Russian drunk on vodka could love. And, are those... plastic wheel covers? The tigger is powered by a 190-hp diesel motor, which can actually get this mountain going 100 mph, but no more. The interior resembles the original HUMMER H1 with its obnoxiously wide central tunnel,
Days after reports that Gorky Automobile Plant (GAZ) owner Oleg Deripaska was interested in purchasing the brand from Ford Motor Co., a spokesperson for the maker of the Volga announced that the automaker is not interested after all. GAZ, she states, is only interested in commercial vehicles and powertrains, not entire brands. Ford has yet to respond to this new development.