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Posts Tagged ‘akerson opel’

GM CEO Akerson Confirms Opel Not for Sale

by on Jul.27, 2011

Opel is still not for sale, insists Akerson.

General Motors’ top executive has made another attempt to head off rumors that the maker’s long-troubled Opel subsidiary is for sale.

“We don’t comment on speculation,” GM chairman and chief executive officer Dan Akerson said before doing precisely that during a brief news conference at a GM assembly plant in Detroit called to officially discuss the opening of contract talks with the United Auto Workers

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“Opel is not for sale,” Ackerson emphasized, reiterating a comment he made earlier in the month – which apparently did little to quell reports in Germany that the subsidiary would be placed on the market.  Whether his latest comment will finally quash speculation remains to be seen in light of Opel’s ongoing problems.


Will Opel Return to the U.S.?

That could be critical to German brand’s fate.

by on Jun.20, 2011

Opel reveals the newest Corsa -- which could come to the U.S., according to a senior Opel exec..

It’s one of the best-known nameplates in Europe, but few Americans know the “blitz,” the lightning-strike logo of German-based Opel.  But that could be about to change, says a senior executive with the General Motors subsidiary.

The brand’s chief counsel apparently sees an opportunity to sell Opel’s fuel efficient small cars to increasingly mileage-sensitive American motorists.  The move could help the struggling Opel overcoming a decade’s worth of financial problems – and prevent the rumored GM plan to sell off the floundering marque.

There’s just one problem, industry analysts warn: at the current exchange rate, the dollar is worth less than 0.7 Euros, which makes it extremely difficult to turn a profit importing luxury cars from Europe, never mind econoboxes like the Opel Corsa.

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“The brand had a good reputation in the United States,” Opel Chief Counsel Klaus Franz told the Stuttgart-based Auto Motor und Sport.

He said a study is already underway and that the new model could come to the States by 2013 under the nameplates Junior or Allegra.


GM May Be Ready to Dump Opel

Faltering turnaround has GM exploring its options.

by on Jun.10, 2011

Opel could be up for sale again.

Hints that General Motors is thinking about dumping Opel are circulating again, especially in Germany, where the maker is based.

Concerns about Opel’s future were initially touched off as GM plunged into bankruptcy and came close to selling off a majority stake in the European subsidiary. Ultimately, GM decided to hold onto Opel but, earlier this week, CEO Dan Akerson declared that Chevrolet would become the carmaker’s lead global brand, a position that once was reserved for Opel.

Now, the German news magazine Der Spiegel, one of Europe’s most influential and authoritative publications, reports GM appears to be getting ready to sell Opel off again after backing out of the 2009 deal that would have turned control of the German operation over to a troika that included Magna and Russian bankers and investors.

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However, Der Speigel said GM’s top management, namely Chairman and chief executive officer Akerson, are growing impatient with the lack of progress in regaining profitability. Opel has steadily lost money for the better part of a decade but the problems were always overshadowed by the larger issues looming over the parent company back in Detroit.