With the German government taking a very cautious approach towards extending a helping hand to GM's Opel division (Vauxhall in the U.K.), a large group of the brand's dealerships have hatched a scheme that could see them take a minority stake in the company. Under the proposal, participating dealers would put 150 euros from each Opel or Vauxhall vehicle sold into an account for the next three years. The total investment would equal 400 million euros, which would only buy a minority stake in the
Opel, General Motors' Deutsch subsidiary, may have hit a snag in its bid for government assistance from the German government. According to Automotive News, Finance Minister Peer Steinbrueck says of the proposal as it currently stands: "is not a workable basis for a decision." Steinbrueck said that Germany is willing to offer assistance to its domestic automakers, "But we can't make decisions that are irresponsible on a completely inadequate basis."
It looks as if the (very) heavy pressure coming from Germany with regard to the EU's proposed legislation to limit fleetwide automaker CO2 emissions is having an effect. Earlier drafts set a 130 g/km ceiling, which would seriously impact German automakers like Porsche, BMW, and Mercedes-Benz, all of which rely on the powerful vehicles in their product portfolios to make money. In new drafts, the flat limit has been replaced by a tiered approach favored by the Germans (Porsche specifically mentio