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Analysts Call on GM to Dump Opel

“Find a new home” for faltering brand.

by on Sep.06, 2012

GM CEO Dan Akerson is coming under increasing pressure to fix -- or dump -- Opel.

General Motors Chairman and CEO Dan Akerson recently let his guard down for a brief moment, hinting GM made a mistake by not selling off its Opel brand back in 2009, shortly after the U.S. giant emerged from bankruptcy.

Apparently, a growing list of analysts and other observers would agree, warning that the U.S. maker simply won’t be able to stop the hemorrhaging of the German-based Opel which is now heading for a 13th year of red ink.

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“One of the worst things in the auto industry is owning a cash-burning, resource-consuming business,” warns Adam Jonas, lead auto analyst for Morgan Stanley, who has now downgraded GM shares to “overweight,” largely due to the continuing problems the maker has in Europe. “We believe the time has come for GM to find a new home for Opel.”

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No Diesels for Small Chryslers, Says Marchionne

Fiat not interested in acquiring Opel.

by on Jan.12, 2012

While the Jeep Grand Cherokee is set to get a new diesel, Chrysler won't be using the high-mileage technology in its small cars.

Chrysler will begin building the diesel version of the Jeep Grand Cherokee at the Jefferson North assembly plant in Detroit early in 2013. But Fiat/Chrysler chief executive officer Sergio Marchionne said he doesn’t expect diesel engines to move from large trucks and SUVs into smaller passenger cars in the U.S.

The necessary emission controls make the engines too expensive, Marchionne said during an appearance at the Automotive News World Congress. The Canadian-born executive also said Chrysler won’t begin preparing the Jefferson North plant to build a new Maserati SUV — using a Ferrari engine — until 2013 and dismissed speculation Fiat could be lining up to make a bid for Opel.

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He also said the industry has a social responsibility to improve fuel economy. “The fuel efficiency challenge is one of the biggest issues facing the industry, and not just because of daunting government regulations. As an industry, we need to look beyond the narrow interests of our industry and embrace ecological responsibility because we owe it to future generations,” he said.

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