opel


REPORT: Opel President Carl-Peter Forster quits after sale collapse

German magazine Der Spiegel is reporting this morning that Opel President Carl-Peter Forster has resigned from General Motors following the board's decision to kill the sale of a majority stake to Magna International. Apparently, Forster was disgusted at the way that GM officials handled the whole process. Over the past several months, GM went back-and-forth, first agreeing to sell to Magna, then opting for another bid before returning to Magna, only to finally kill the deal altogether and keep the brand for itself. A statement issued by ... Read more →

Germany not happy with GM abandoning Opel sale John Neff

It was an exhausting 7-month process that finally winnowed down a pool of suitors for Opel, General Motors' European subsidiary, to Canadian parts maker Magna and Russian bank Sberbank. The deal ...

BREAKING: GM board opts to call off Opel sale Chris Shunk

After months of negotiations with supplier Magna and its Russian partner Sberbank, General Motors has decided not to sell its Opel unit. The General mentioned in the post-jump press release that ...

Opel sale on hold, GM asked to have a word with EU Commission Jonathon Ramsey

The EU's Directorate-General for Competition (EUDGC) is looking at the Opel deal that should have been concluded already, and is asking questions of Germany and GM. Principally it is trying to ...

REPORT: Chevrolet to take larger role at GM, account for 70% of total volume Jonathon Ramsey

Forget about more cowbell, for GM it's all about more Chevy -- at least, that's the situation for Chevrolet's new VP Brent Dewar. So far this year the Bowtie has posted more than 60% of GM's North ...

Frankfurt 2009: Opel Astra makes its debut under the lights 1 month ago on Autoblog

By now, you've likely already seen official shots of the 2010 Opel Astra, both inside and out. Of course, catching a glimpse of a new shape under the harsh lighting of an auto show often brings a different point of view than the automaker's own glitzy press shots. In the case of the latest ...

Frankfurt 2009: Bring us the 2010 Opel Insignia OPC Sports Tourer 1 month ago on Autoblog

Remember this? "More wagons! More wagons!" Well, here's another. Meet the Opel Insignia OPC Sports Tourer. Salient facts: 325-horsepower turbocharged 2.8-liter V6, AWD, six-speed manual, eLSD torque vectoring and it's a station wagon. Oh, and get this -- it's built from off the shelf GM parts. ...

You didn't think the battle for Opel was over, did you? Belgium reportedly asking EU to investigate 1 month ago on Autoblog

When GM decided to hand 55% of Opel to Magna, you didn't think the Belgians were just going to have some waffles and call it quits, did you? Oh no. Belgium's prime minister made a call to the EU president about the deal, and the EU Competition Commissioner Neelie Kroes told a Belgian newspaper, ...

BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank 1 month ago on Autoblog

Finally, after what seems like an eternity of protracted negotiations, bickering and stalling tactics, General Motors has agreed to sell a majority stake in its European operations to Magna International and its Russian financial partner Sberbank. Under the terms of the deal, 55% of Opel and ...

GM would rather have Opel, Vauxhall fall into insolvency than sell to Magna? 1 month ago on Autoblog

While General Motors was going through its 42 day bankruptcy period, one of the stories that didn't receive much play was the sale of GM's Opel brand. The major players in the Opel sale appear to be the German government, Canadian supplier Magna and Belgian private investor RHJ International. ...

REPORT: Opel labor union goes on the offensive, GM negotiator meets with German feds 2 months ago on Autoblog

The battle for Opel has added another front: Opel labor unions at two of the company's German factories retracted an agreement made last year to forgo vacation bonuses. The move demands that General Motors pay the laborers €70 million ($100.2M U.S.) by next week, the amount that they agreed to ...

GM issues a 'No-Decision' on fate of Opel, German government not happy 2 months ago on Autoblog

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 ...

RHJ ups offer for Opel, commits to Vauxhall, has "good chances of winning" 2 months ago on Autoblog

Belgian investment firm RHJ, once considered a back-up bidder for Opel, is now considered a front-runner – at least according to its own CEO. RHJ head Leonhard Fischer has already told U.K. officials that the company is committed to retaining the Vauxhall name, and speaking to German ...

Buick expanding lineup to six models in two years 2 months ago on Autoblog

During our preview this morning of upcoming products from both Buick and GMC, we learned that the Buick lineup will expand its lineup to include six models within the next 24 months. Joining the LaCrosse and Enclave (it sounds like the Lucerne is on its way out) will be two new sedans and two new ...

REPORT: Opel, waiting on GM and the German government, heading toward bankruptcy 3 months ago on Autoblog

There are five noteworthy parties involved in the negotiations over Opel's fate: GM, the German government, the Opel trust, states with Opel manufacturing plants, and the Opel labor union. The Opel trust is the body created to run Opel after GM's bankruptcy, and consists of five members: a ...

REPORT: The Sky has a limit after all, as GM Kappa production ends 3 months ago on Autoblog

Old saying: The flame that burns twice as bright burns only half as long. Having driven our share of Pontiac Solstice and Saturn Sky roadsters, we can't honestly declare them to be brightly burning flames. Oh, they have their good points, but the market's worst folding top mechanism and rampant ...

German economics minister reportedly says no to Opel buy-back option for GM 3 months ago on Autoblog

One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling. As the theory goes, GM isn't selling Opel because it feels like it doesn't add value – Opel in fact offers ...

Beijing Automotive bids for Opel; Magna still expected to close deal 4 months ago on Autoblog

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 ...

Marchionne confirms Fiat still interested in Opel 4 months ago on Autoblog

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 ...

GM worried about Magna deal for Opel, sign backup deal with RHJ, Beijing Automotive 4 months ago on Autoblog

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 ...

REPORT: Opel to cut prices 40% in order to save jobs? 4 months ago on Autoblog

Sometimes deals get made, and then the dealmakers have to employ some pretty creative tactics to get the terms to work. Magna's deal for Opel included taking €1.5 billion in short term loans from the German government, the string attached being that Magna had to guarantee German jobs. Saving ...

Opel pulls the wraps off the 2010 Astra's interior 4 months ago on Autoblog

Although we're still a few months away from seeing the 2010 Opel Astra in the flesh at the Frankfurt Motor Show, the automaker has released a bevy of interior images of its new compact hatch following the reveal of the fully redesigned exterior. The new interior takes a huge stride beyond the ...

Opel stake could give Russian automaker an injection of "know-how" 5 months ago on Autoblog

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 ...

REPORT: VW takes issue with Magna/Opel tie-up 5 months ago on Autoblog

You knew that something like this was coming sooner or later: at least one of Magna's clients have found the supplier's majority stake in Opel to be a conflict of interest. As it turns out, Volkswagen was the first automaker to cry foul. Magna is a major supplier for VW and its brands, while Opel ...

REPORT: Opel's 'preferred' buyer(s) expected to be named mid-week 5 months ago on Autoblog

It looks like the German government is about to announce its list of preferred bidders for Opel this week, and the list is likely to include Fiat and Magna. Why would this list be coming from Chancellor Angela Merkel's spokesman and not, say, GM? Because the German government will have to step in ...

Tongue-Waggin' Wagon: Vauxhall Insignia VXR Sports Tourer unveiled 5 months ago on Autoblog

No more spy shots. GM has formally unveiled the Vauxhall Insignia VXR Sports Tourer (a.k.a. the Opel Insignia OPC Sports Tourer on the other side of the Chunnel). By now, you're probably seen the specs, but we'll go over them again for the sake of being complete. 325 horses are corralled in the ...

REPORT: Magna could use Opel to produce vehicles for other automakers 5 months ago on Autoblog

General Motors is very close to selling its Opel unit, with Canadian supplier Magna and Italian automaker Fiat among the suitors. If Magna and its Russian partners Gaz and Sberbank scores the winning bid for Opel, the parts supplier has big plans for the German brand and its factories. Automotive ...

Officially Official: 2010 Opel Astra revealed ahead of Frankfurt debut 5 months ago on Autoblog

After yesterday's impromptu internet unveiling of the 2010 Opel Astra, General Motors has finally let the details out on its next-generation compact before its official debut at the Frankfurt Motor Show this September. The 2010 Astra's design is inspired by the Opel Insignia, sporting all-new ...

REPORT: GAZ confirms interest in Opel 5 months ago on Autoblog

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 ...

Leaked: 2010 Opel Astra gets early web reveal 5 months ago on Autoblog

Opel's Astra hasn't exactly gone down a storm here in the U.S. while wearing a Saturn badge, but the four-cylinder econocar lineup is pivotal stuff in Europe, and the next-generation model could still find its way to America – even if it doesn't wear a planetary badge. Regardless of ...

Henderson: Buyer for Opel picked by end of month 5 months ago on Autoblog

The Opel brand may be churning out some solid-looking products of late, but the European brand isn't long for the GM world. That isn't news, but the fact that a buyer will be chosen before the end of May is. GM CEO Fritz Henderson promised the quick turnaround of Opel during a Monday news ...

Opel does a fan-dance with 2010 Astra teasers 6 months ago on Autoblog

With the Frankfurt Auto Show looming on the horizon, German automakers in particular have been preparing their latest offerings for their debuts. And even with its future still hanging in the balance, General Motors' Opel division has just released a series of teasers of its upcoming new Astra to ...

Opel reportedly mulling reviving Wartburg as low-cost brand 6 months ago on Autoblog

Despite an uncertain future, Ward's Auto is reporting that Opel is looking at the possibility of starting a new low-cost line under the revived moniker "Wartburg." Made by East German company VEB AEW until 1991, in their most recent guise, Wartburgs were cheap transportation for the Communist set, ...

Marchionne to Germans: If you have a better offer for Opel, take it 6 months ago on Autoblog

Fiat's bid for worldwide domination of the automotive industry has seen a bit of a snag in Germany, where government officials are said to be balking at the Italian automaker's plan to take over GM's struggling Opel brand. Fiat CEO Sergio Marchionne sounds confident that his plan is the best way ...

Vauxhall going after city car market with Trixx EV? 6 months ago on Autoblog

Way back in 2004, GM's European arm put a toe in the water of the rapidly expanding city-car market with its Opel Trixx concept. A few years later, GM's Carl-Peter Forster indicated that the automaker would not be entering that microcar market after all. Fast forward another couple of years and ...

Vauxhall sans Opel could reallign with GM Daewoo, Holden 6 months ago on Autoblog

Eyebrows raised at reports that General Motors could hold on to its British subsidiary Vauxhall even if – or, more likely, when – its German counterpart Opel would leave the family. With the model ranges of the two European GM divisions intertwined, a Vauxhall without Opel would ...

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Autoblog Podcast #151: With Car and Driver's Eddie Alterman

Eddie Alterman wades in with Sam, Chris, Dan, and Jonny to talk about SEMA and other recent events.

 
 

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